Summit Financial LLC Makes New Investment in The Mosaic Company (NYSE:MOS)

Summit Financial LLC bought a new stake in The Mosaic Company (NYSE:MOS) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 145,053 shares of the basic materials company’s stock, valued at approximately $3,565,000.

Several other large investors have also modified their holdings of MOS. Pacer Advisors Inc. boosted its holdings in shares of Mosaic by 49.0% in the fourth quarter. Pacer Advisors Inc. now owns 73,807 shares of the basic materials company’s stock valued at $1,814,000 after acquiring an additional 24,281 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Mosaic by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,368,596 shares of the basic materials company’s stock worth $82,800,000 after buying an additional 150,186 shares during the period. OLD National Bancorp IN grew its holdings in shares of Mosaic by 33.8% in the 4th quarter. OLD National Bancorp IN now owns 291,605 shares of the basic materials company’s stock worth $7,168,000 after acquiring an additional 73,653 shares during the period. Swedbank AB boosted its position in Mosaic by 9.3% during the fourth quarter. Swedbank AB now owns 1,387,332 shares of the basic materials company’s stock worth $34,101,000 after purchasing an additional 117,838 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Mosaic in the third quarter valued at $1,251,000. Hedge funds and other institutional investors own 77.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays upgraded shares of Mosaic from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $27.00 to $33.00 in a report on Wednesday, March 19th. Morgan Stanley lowered their target price on Mosaic from $40.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group initiated coverage on Mosaic in a report on Thursday, March 13th. They issued a “buy” rating and a $31.00 price target for the company. Wells Fargo & Company increased their price objective on Mosaic from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada boosted their target price on shares of Mosaic from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 4th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.67.

Mosaic Price Performance

Mosaic stock opened at $27.00 on Tuesday. The Mosaic Company has a 1 year low of $22.48 and a 1 year high of $33.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.49 and a current ratio of 1.19. The firm has a 50 day moving average price of $26.58 and a 200 day moving average price of $26.24. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.42 and a beta of 1.34.

Mosaic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.88 annualized dividend and a dividend yield of 3.26%. Mosaic’s dividend payout ratio is presently 160.00%.

Mosaic Profile

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.