Mosaic (NYSE:MOS) Hits New 12-Month High - Here's What Happened

The Mosaic Company (NYSE:MOS - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $36.14 and last traded at $36.02, with a volume of 3081912 shares. The stock had previously closed at $35.10.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Mosaic in a research note on Thursday, March 13th. They issued a "buy" rating and a $31.00 price objective on the stock. Oppenheimer increased their price objective on shares of Mosaic from $33.00 to $40.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of Mosaic from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Royal Bank of Canada upgraded shares of Mosaic from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $30.00 to $40.00 in a research note on Thursday, May 8th. Finally, Piper Sandler reissued a "neutral" rating and issued a $30.00 target price on shares of Mosaic in a report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.58.

Mosaic Stock Performance

The business's fifty day simple moving average is $29.63 and its 200-day simple moving average is $27.28. 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 market capitalization of $11.41 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09.

Mosaic (NYSE:MOS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.04. Mosaic had a return on equity of 6.00% and a net margin of 3.24%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the company earned $0.65 earnings per share. Mosaic's revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts expect that The Mosaic Company will post 2.04 EPS for the current year.

Mosaic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.88 dividend on an annualized basis and a yield of 2.45%. Mosaic's dividend payout ratio is presently 75.86%.

Hedge Funds Weigh In On Mosaic

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. increased its holdings in Mosaic by 49.0% in the 4th quarter. Pacer Advisors Inc. now owns 73,807 shares of the basic materials company's stock worth $1,814,000 after buying an additional 24,281 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Mosaic by 4.7% in the 4th 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 boosted its position in 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 purchasing an additional 73,653 shares in the last quarter. Swedbank AB boosted its position in Mosaic by 9.3% in 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 in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Mosaic in the 4th quarter worth approximately $1,054,000. Institutional investors and hedge funds own 77.54% of the company's stock.

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.