CIBC Asset Management Inc Cuts Stake in The Mosaic Company (NYSE:MOS)

CIBC Asset Management Inc reduced its stake in shares of The Mosaic Company (NYSE:MOS) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,612 shares of the basic materials company’s stock after selling 2,109 shares during the period. CIBC Asset Management Inc’s holdings in Mosaic were worth $1,293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group lifted its stake in shares of Mosaic by 110.8% during the fourth quarter. Brooklyn Investment Group now owns 1,117 shares of the basic materials company’s stock worth $27,000 after buying an additional 587 shares during the period. R Squared Ltd acquired a new stake in shares of Mosaic during the fourth quarter worth $33,000. Tobam acquired a new stake in shares of Mosaic during the fourth quarter worth $38,000. Heck Capital Advisors LLC acquired a new stake in shares of Mosaic during the fourth quarter worth $41,000. Finally, Larson Financial Group LLC lifted its stake in shares of Mosaic by 180,900.0% during the third quarter. Larson Financial Group LLC now owns 1,810 shares of the basic materials company’s stock worth $48,000 after buying an additional 1,809 shares during the period. 77.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MOS shares. CIBC started coverage on shares of Mosaic in a research note on Tuesday, December 10th. They set a “neutral” rating and a $55.00 price objective for the company. Oppenheimer assumed coverage on shares of Mosaic in a research report on Thursday, December 12th. They set a “market perform” rating for the company. Mizuho boosted their target price on shares of Mosaic from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Royal Bank of Canada restated a “sector perform” rating and set a $30.00 target price on shares of Mosaic in a research report on Thursday, November 14th. Finally, Piper Sandler boosted their target price on shares of Mosaic from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Mosaic currently has a consensus rating of “Hold” and an average target price of $33.80.

Mosaic Stock Down 3.2 %

MOS opened at $25.77 on Friday. The Mosaic Company has a fifty-two week low of $23.56 and a fifty-two week 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 company has a fifty day moving average of $26.20 and a two-hundred day moving average of $26.50. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.42 and a beta of 1.34.

Mosaic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, March 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.42%. This is a boost from Mosaic’s previous quarterly dividend of $0.21. Mosaic’s payout ratio is currently 74.34%.

About Mosaic

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.