Summit Financial LLC Buys Shares of 145,053 The Mosaic Company (NYSE:MOS)

Summit Financial LLC acquired a new stake in The Mosaic Company (NYSE:MOS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 145,053 shares of the basic materials company’s stock, valued at approximately $3,565,000.

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

Mosaic Trading Down 0.9 %

MOS opened at $27.00 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 1.19 and a debt-to-equity ratio of 0.27. The Mosaic Company has a 52 week low of $22.48 and a 52 week high of $33.44. The business’s 50 day moving average is $26.58 and its two-hundred day moving average is $26.24. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34.

Mosaic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.88 annualized dividend and a yield of 3.26%. Mosaic’s dividend payout ratio (DPR) is 160.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Mosaic from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $26.00 to $29.00 in a research note on Monday, March 3rd. Morgan Stanley dropped their price objective on shares of Mosaic from $40.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Mizuho decreased their price objective on shares of Mosaic from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Oppenheimer raised Mosaic from a “market perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a report on Thursday, March 20th. Finally, Piper Sandler lifted their price target on Mosaic from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Mosaic presently has an average rating of “Hold” and a consensus target price of $32.67.

Mosaic Company 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.