Pinnacle Associates Ltd. Has $1.29 Million Stake in The Mosaic Company (NYSE:MOS)

Key Points

• Pinnacle Associates Ltd. increased its stake in The Mosaic Company by 34.1% to own 47,791 shares, valued at approximately $1.29 million.
• Analysts have set a new consensus price target of $36.75 for Mosaic stock, with ratings ranging from "hold" to "strong buy" from various firms.
• The Mosaic Company reported earnings of $0.49 per share, exceeding expectations, although revenue decreased by 2.2% compared to the previous year.

Pinnacle Associates Ltd. increased its stake in shares of The Mosaic Company (NYSE:MOS - Free Report) by 34.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,791 shares of the basic materials company's stock after buying an additional 12,141 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Mosaic were worth $1,291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MOS. Norges Bank bought a new position in shares of Mosaic during the 4th quarter worth approximately $97,363,000. Invesco Ltd. lifted its position in shares of Mosaic by 29.3% during the 4th quarter. Invesco Ltd. now owns 13,507,131 shares of the basic materials company's stock worth $332,005,000 after buying an additional 3,058,243 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Mosaic by 24.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,041,218 shares of the basic materials company's stock worth $271,382,000 after buying an additional 2,151,426 shares during the period. Criteria Caixa S.A.U. bought a new position in shares of Mosaic during the 4th quarter worth approximately $36,231,000. Finally, Victory Capital Management Inc. lifted its position in shares of Mosaic by 606.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,389,335 shares of the basic materials company's stock worth $37,526,000 after buying an additional 1,192,602 shares during the period. Institutional investors own 77.54% of the company's stock.

Mosaic Trading Down 2.0%

Shares of NYSE MOS traded down $0.75 during midday trading on Wednesday, hitting $36.27. The stock had a trading volume of 3,771,661 shares, compared to its average volume of 4,088,493. The company's 50-day simple moving average is $36.11 and its 200 day simple moving average is $30.54. The firm has a market cap of $11.51 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12. The Mosaic Company has a fifty-two week low of $22.36 and a fifty-two week high of $38.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.12 and a quick ratio of 0.44.

Mosaic (NYSE:MOS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The basic materials company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.04. Mosaic had a return on equity of 4.91% and a net margin of 3.32%. The business had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $2.70 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. Research analysts anticipate that The Mosaic Company will post 2.04 EPS for the current year.

Insider Activity at Mosaic

In related news, SVP Walter F. Precourt III sold 18,000 shares of Mosaic stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $35.73, for a total transaction of $643,140.00. Following the completion of the sale, the senior vice president directly owned 128,546 shares of the company's stock, valued at $4,592,948.58. The trade was a 12.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MOS has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Mosaic from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Oppenheimer reaffirmed an "outperform" rating and set a $43.00 price target (up from $39.00) on shares of Mosaic in a report on Tuesday, July 15th. Barclays raised their price target on Mosaic from $40.00 to $46.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Scotiabank reaffirmed an "outperform" rating on shares of Mosaic in a report on Wednesday, May 14th. Finally, CIBC raised their price target on Mosaic from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Mosaic presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.75.

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.