The Mosaic Company (NYSE:MOS – Get Rating) announced a quarterly dividend on Thursday, May 19th, Zacks reports. Stockholders of record on Thursday, June 2nd will be paid a dividend of 0.15 per share by the basic materials company on Thursday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, June 1st. This is an increase from Mosaic’s previous quarterly dividend of $0.11.
Mosaic has increased its dividend payment by an average of 50.0% per year over the last three years and has increased its dividend every year for the last 1 years. Mosaic has a payout ratio of 4.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Mosaic to earn $11.31 per share next year, which means the company should continue to be able to cover its $0.45 annual dividend with an expected future payout ratio of 4.0%.
Shares of Mosaic stock opened at $57.95 on Friday. Mosaic has a 52 week low of $28.26 and a 52 week high of $79.28. The company has a quick ratio of 0.57, a current ratio of 1.23 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $66.30 and its two-hundred day moving average is $50.33. The company has a market capitalization of $20.98 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 0.65 and a beta of 1.56.
Mosaic declared that its Board of Directors has approved a share buyback program on Tuesday, February 22nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Several research firms recently issued reports on MOS. Piper Sandler boosted their price objective on Mosaic from $57.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, March 7th. The Goldman Sachs Group raised Mosaic from a “neutral” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Tuesday, March 15th. Mizuho upped their price target on Mosaic from $59.00 to $89.00 in a report on Friday, April 29th. Exane BNP Paribas cut Mosaic from an “outperform” rating to a “neutral” rating and set a $82.00 price objective on the stock. in a report on Wednesday, April 20th. Finally, Citigroup increased their target price on Mosaic from $49.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 22nd. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mosaic presently has a consensus rating of “Hold” and a consensus price target of $64.59.
In related news, VP Walter F. Precourt III sold 9,647 shares of the stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $78.00, for a total transaction of $752,466.00. Following the completion of the transaction, the vice president now owns 75,000 shares in the company, valued at $5,850,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James Calvin O’rourke sold 27,681 shares of the stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $74.97, for a total transaction of $2,075,244.57. Following the transaction, the chief executive officer now owns 135,220 shares of the company’s stock, valued at approximately $10,137,443.40. The disclosure for this sale can be found here. Insiders have sold a total of 99,039 shares of company stock worth $7,169,395 in the last quarter. 0.57% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in MOS. Capital International Sarl purchased a new position in shares of Mosaic during the first quarter worth approximately $1,437,000. Capital Group International Inc. CA purchased a new position in shares of Mosaic during the first quarter worth approximately $2,156,000. Capital International Investors bought a new position in shares of Mosaic in the first quarter worth approximately $412,663,000. Wealthfront Advisers LLC grew its holdings in shares of Mosaic by 5.0% in the first quarter. Wealthfront Advisers LLC now owns 105,952 shares of the basic materials company’s stock worth $7,046,000 after purchasing an additional 5,030 shares during the last quarter. Finally, Willis Investment Counsel grew its holdings in shares of Mosaic by 31.8% in the first quarter. Willis Investment Counsel now owns 246,418 shares of the basic materials company’s stock worth $16,387,000 after purchasing an additional 59,474 shares during the last quarter. 82.54% of the stock is currently owned by hedge funds and other institutional investors.
About Mosaic (Get Rating)
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.
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