CIBC Asset Management Inc. buys 4,100 shares of The Mosaic Company (NYSE: MOS)
CIBC Asset Management Inc. raised its position in shares of The Mosaic Company (NYSE: MOS – Get a rating) by 11.9% during the 1st quarter, according to its latest filing with the Securities & Exchange Commission. The institutional investor held 38,684 shares of the basic materials company after buying an additional 4,100 shares during the quarter. The holdings of CIBC Asset Management Inc. in Mosaic were worth $2,572,000 when it was last filed with the Securities & Exchange Commission.
Other hedge funds have also recently changed their positions in the business. SJS Investment Consulting Inc. purchased a new stake in Mosaic stock during the first quarter valued at approximately $28,000. FourThought Financial LLC increased its stake in Mosaic by 5,000.0% in the first quarter. FourThought Financial LLC now owns 510 shares of the basic materials company worth $34,000 after acquiring 500 additional shares in the last quarter. JFS Wealth Advisors LLC bought a new stake in Mosaic in the first quarter for $35,000. First Command Bank bought a new stake in Mosaic in the first quarter worth $36,000. Finally, Private Capital Group LLC increased its stake in Mosaic by 44.8% in the first quarter. Private Capital Group LLC now owns 608 shares of the basic materials company worth $40,000 after acquiring 188 additional shares in the last quarter. 82.54% of the shares are currently held by institutional investors.
Mosaic stock up 1.0%
mosaic stock opened at $52.22 on Monday. The stock has a market capitalization of $18.90 billion, a PE ratio of 5.95, a growth price-earnings ratio of 0.54 and a beta of 1.62. The company has a debt ratio of 0.28, a quick ratio of 0.57 and a current ratio of 1.30. The Mosaic Company has a one-year low of $29.14 and a one-year high of $79.28. The stock has a fifty-day moving average of $50.58 and a 200-day moving average of $55.71.
Mosaic (NYSE: MOS – Get a rating) last released its quarterly earnings data on Monday, August 1. The basic materials company reported EPS of $3.64 for the quarter, missing analyst consensus estimates of $3.94 per ($0.30). The company posted revenue of $5.37 billion for the quarter, versus $5.62 billion expected by analysts. Mosaic had a net margin of 19.66% and a return on equity of 30.83%. The company’s revenue increased by 91.8% compared to the same quarter last year. During the same quarter last year, the company posted EPS of $1.17. As a group, sell-side analysts expect The Mosaic Company to post year-to-date EPS of 13.78.
Mosaic increases the dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 16. Investors of record on Thursday, June 2 received a dividend of $0.15 per share. This represents a dividend of $0.60 on an annualized basis and a yield of 1.15%. The ex-dividend date was Wednesday, June 1. This is a boost from Mosaic’s previous quarterly dividend of $0.11. Mosaic’s dividend payout ratio is 6.84%.
Mosaic announced that its board of directors approved a stock repurchase program on Monday, August 1 that allows the company to repurchase $2.00 billion in stock. This repurchase authorization authorizes the commodity company to repurchase up to 10.8% of its shares through open market purchases. Stock buyback programs usually indicate that the management of the company believes that its shares are undervalued.
Changes to analyst ratings
Several equity research analysts have commented on MOS shares. Royal Bank of Canada raised its target price on Mosaic from $80.00 to $85.00 and gave the stock an “outperform” rating in a Thursday, April 21 report. Credit Suisse Group began covering Mosaic in a report on Thursday, July 14. They issued an “outperform” rating and a target price of $60.00 on the stock. Citigroup upgraded Mosaic from a “neutral” rating to a “buy” rating and set a target price of $61.00 on the stock in a Wednesday, Aug. 3 report. Exane BNP Paribas downgraded Mosaic from an “outperforming” rating to a “neutral” rating and set a price target of $82.00 for the stock. in a report from Wednesday, April 20. Finally, Barclays began covering Mosaic in a report on Wednesday June 1. They set an “underweight” rating and a price target of $59.00 on the stock. One research analyst rated the stock with a sell rating, six gave the stock a hold rating, and ten gave the stock a buy rating. Based on data from MarketBeat.com, Mosaic currently has a consensus rating of “Moderate Buy” and an average price target of $65.29.
Insider Activity at Mosaic
In other Mosaic news, Director Denise C. Johnson sold 24,427 shares of the company in a transaction dated Monday, May 16. The stock was sold at an average price of $65.00, for a total value of $1,587,755.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink. 0.57% of the shares are held by insiders of the company.
Mosaic Company Profile
The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash nutrients in North America and internationally. The Company operates through three segments: Phosphates, Potash and Mosaic Fertilizantes. It owns and operates mines, which produce concentrated phosphate nutrients, such as diammonium phosphate, monoammonium phosphate and ammonium phosphate products; and phosphate-based feed ingredients primarily under the Biofos and Nexfos brands, as well as produces a dual sulfate of potash and magnesia product under the K-Mag brand.
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