Mosaic (NYSE:MOS) Cut to Neutral at Bank of America

Bank of America cut shares of Mosaic (NYSE:MOS) from a buy rating to a neutral rating in a report released on Friday, MarketBeat reports. Bank of America currently has $30.00 price objective on the basic materials company’s stock, down from their prior price objective of $33.00.

Several other equities research analysts have also recently commented on MOS. Wells Fargo & Company cut their price target on shares of Mosaic from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Mizuho lifted their target price on Mosaic from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group lifted their target price on Mosaic from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Canadian Imperial Bank of Commerce upped their target price on Mosaic from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Finally, Weiss Ratings cut Mosaic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.75.

Mosaic Stock Performance

MOS opened at $23.65 on Friday. The business’s 50-day moving average price is $28.01 and its two-hundred day moving average price is $28.12. Mosaic has a 1 year low of $22.36 and a 1 year high of $38.23. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 2.35 and a beta of 0.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.47.

Mosaic (NYSE:MOS) last posted its quarterly earnings data on Tuesday, February 24th. The basic materials company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.26). The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.02 billion. Mosaic had a return on equity of 5.80% and a net margin of 4.49%.The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. Equities analysts expect that Mosaic will post 2.04 EPS for the current fiscal year.

Mosaic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.7%. Mosaic’s dividend payout ratio (DPR) is 52.07%.

Institutional Trading of Mosaic

Several institutional investors have recently added to or reduced their stakes in MOS. Dorsey Wright & Associates bought a new position in shares of Mosaic in the third quarter worth $4,170,000. Barclays PLC lifted its position in Mosaic by 55.6% during the third quarter. Barclays PLC now owns 1,606,609 shares of the basic materials company’s stock worth $55,717,000 after purchasing an additional 574,352 shares during the period. Algert Global LLC grew its stake in Mosaic by 26.3% during the third quarter. Algert Global LLC now owns 380,138 shares of the basic materials company’s stock worth $13,183,000 after buying an additional 79,222 shares in the last quarter. Clough Capital Partners L P bought a new position in Mosaic in the 3rd quarter valued at about $1,435,000. Finally, Fiduciary Alliance LLC bought a new position in Mosaic in the 3rd quarter valued at about $1,969,000. 77.54% of the stock is currently owned by institutional investors.

About Mosaic

Mosaic Co is one of the world’s leading producers and marketers of concentrated phosphate and potash crop nutrients. The company’s primary business activities center on the extraction, processing and distribution of phosphate rock, phosphate-based fertilizers and potash products. These core nutrients are essential components in modern agriculture, supporting crop yields and soil health across a range of farming applications.

In its phosphate segment, Mosaic operates mining and production facilities that convert phosphate rock into concentrated phosphates, finished phosphate fertilizers and feed phosphates for animal nutrition.