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

CIBC Asset Management Inc lowered its stake in shares of The Mosaic Company (NYSE:MOS) by 3.9% in the fourth quarter, Holdings Channel reports. 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 reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Creative Planning grew its stake in Mosaic by 25.6% during the 3rd quarter. Creative Planning now owns 30,765 shares of the basic materials company’s stock valued at $824,000 after acquiring an additional 6,278 shares in the last quarter. Blue Trust Inc. grew its stake in Mosaic by 46.4% during the 3rd quarter. Blue Trust Inc. now owns 1,799 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 570 shares in the last quarter. Signaturefd LLC grew its stake in Mosaic by 136.5% during the 3rd quarter. Signaturefd LLC now owns 4,652 shares of the basic materials company’s stock valued at $125,000 after acquiring an additional 2,685 shares in the last quarter. Greenleaf Trust grew its stake in Mosaic by 21.7% during the 3rd quarter. Greenleaf Trust now owns 15,061 shares of the basic materials company’s stock valued at $403,000 after acquiring an additional 2,684 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Mosaic by 2,501.8% during the 3rd quarter. International Assets Investment Management LLC now owns 156,761 shares of the basic materials company’s stock valued at $4,198,000 after acquiring an additional 150,736 shares in the last quarter. Hedge funds and other institutional investors own 77.54% of the company’s stock.

Mosaic Stock Performance

Shares of MOS stock opened at $25.77 on Friday. The firm’s 50 day moving average price is $26.20 and its 200-day moving average price is $26.50. 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 Mosaic Company has a one year low of $23.56 and a one year high of $33.44. The firm has a market cap of $8.18 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.42 and a beta of 1.34.

Mosaic Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MOS. Mizuho upped their price objective on shares of Mosaic from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. 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 report on Monday, January 27th. Oppenheimer began coverage on shares of Mosaic in a report on Thursday, December 12th. They issued a “market perform” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $30.00 target price on shares of Mosaic in a report on Thursday, November 14th. Finally, Morgan Stanley decreased their target price on shares of Mosaic from $40.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $33.80.

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.