Meitav Dash Investments Ltd. Acquires 70,804 Shares of The Mosaic Company (NYSE:MOS)

Meitav Dash Investments Ltd. grew its holdings in shares of The Mosaic Company (NYSE:MOSGet Rating) by 144.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 119,682 shares of the basic materials company’s stock after buying an additional 70,804 shares during the period. Meitav Dash Investments Ltd.’s holdings in Mosaic were worth $7,918,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Forsta AP Fonden raised its position in shares of Mosaic by 26.9% in the 1st quarter. Forsta AP Fonden now owns 106,000 shares of the basic materials company’s stock worth $7,049,000 after purchasing an additional 22,500 shares during the last quarter. Gemsstock Ltd. raised its position in shares of Mosaic by 160.7% in the 1st quarter. Gemsstock Ltd. now owns 877,200 shares of the basic materials company’s stock worth $58,334,000 after purchasing an additional 540,700 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Mosaic by 6.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 194,947 shares of the basic materials company’s stock worth $12,964,000 after purchasing an additional 11,394 shares during the last quarter. Curi Wealth Management LLC raised its position in shares of Mosaic by 9,285.7% in the 1st quarter. Curi Wealth Management LLC now owns 1,314 shares of the basic materials company’s stock worth $87,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its position in shares of Mosaic by 152.8% in the 1st quarter. Great Lakes Advisors LLC now owns 32,568 shares of the basic materials company’s stock worth $2,166,000 after purchasing an additional 19,685 shares during the last quarter. Hedge funds and other institutional investors own 82.54% of the company’s stock.

Mosaic Stock Performance

NYSE:MOS opened at $52.22 on Friday. The stock’s fifty day moving average is $50.58 and its 200 day moving average is $55.51. The Mosaic Company has a fifty-two week low of $29.14 and a fifty-two week high of $79.28. The firm has a market capitalization of $18.90 billion, a PE ratio of 5.95, a PEG ratio of 0.54 and a beta of 1.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.57 and a current ratio of 1.30.

Mosaic (NYSE:MOSGet Rating) last released its quarterly earnings results on Monday, August 1st. The basic materials company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.94 by ($0.30). Mosaic had a net margin of 19.66% and a return on equity of 30.83%. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same quarter in the previous year, the company posted $1.17 EPS. The business’s quarterly revenue was up 91.8% on a year-over-year basis. On average, sell-side analysts anticipate that The Mosaic Company will post 13.78 earnings per share for the current year.

Mosaic announced that its board has authorized a share repurchase program on Monday, August 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Mosaic Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, June 1st. This is a positive change from Mosaic’s previous quarterly dividend of $0.11. Mosaic’s dividend payout ratio is presently 6.84%.

Insider Activity at Mosaic

In other Mosaic news, Director Denise C. Johnson sold 24,427 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $65.00, for a total value of $1,587,755.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MOS. Barclays began coverage on Mosaic in a research report on Wednesday, June 1st. They issued an “underweight” rating and a $59.00 target price for the company. Credit Suisse Group assumed coverage on shares of Mosaic in a research report on Thursday, July 14th. They set an “outperform” rating and a $60.00 price target for the company. Piper Sandler boosted their price objective on Mosaic from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, May 31st. BNP Paribas downgraded Mosaic from an “outperform” rating to a “neutral” rating and set a $82.00 price objective for the company. in a research note on Wednesday, April 20th. Finally, Exane BNP Paribas downgraded Mosaic from an “outperform” rating to a “neutral” rating and set a $82.00 price objective for the company. in a research note on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.29.

About Mosaic

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The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop 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 crop nutrients, such as diammonium phosphate, monoammonium phosphate, and ammoniated phosphate products; and phosphate-based animal feed ingredients primarily under the Biofos and Nexfos brand names, as well as produces a double sulfate of potash magnesia product under K-Mag brand name.

Further Reading

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Institutional Ownership by Quarter for Mosaic (NYSE:MOS)

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