State of Michigan Retirement System Raises Stock Position in The Mosaic Company (NYSE:MOS)

State of Michigan Retirement System grew its holdings in shares of The Mosaic Company (NYSE:MOS) by 2.5% during the fourth quarter, Holdings Channel reports. The firm owned 103,876 shares of the basic materials company’s stock after purchasing an additional 2,500 shares during the quarter. State of Michigan Retirement System’s holdings in Mosaic were worth $2,553,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group raised its holdings in Mosaic by 110.8% in the fourth quarter. Brooklyn Investment Group now owns 1,117 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 587 shares in the last quarter. R Squared Ltd acquired a new stake in Mosaic in the fourth quarter valued at approximately $33,000. Tobam acquired a new stake in Mosaic in the fourth quarter valued at approximately $38,000. Heck Capital Advisors LLC acquired a new stake in Mosaic in the fourth quarter valued at approximately $41,000. Finally, Larson Financial Group LLC raised its holdings in Mosaic by 180,900.0% in the third quarter. Larson Financial Group LLC now owns 1,810 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 1,809 shares in the last quarter. 77.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Oppenheimer assumed coverage on shares of Mosaic in a report on Thursday, December 12th. They issued a “market perform” rating on the stock. Wells Fargo & Company dropped their price target on shares of Mosaic from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Royal Bank of Canada increased their price target on shares of Mosaic from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Tuesday. Barclays upgraded shares of Mosaic from an “underweight” rating to an “equal weight” rating and set a $27.00 price target on the stock in a research note on Wednesday. Finally, Mizuho dropped their price target on shares of Mosaic from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.70.

Mosaic Stock Up 1.5 %

Shares of NYSE:MOS opened at $25.10 on Friday. 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 1 year low of $22.48 and a 1 year high of $33.44. The stock has a market capitalization of $7.97 billion, a P/E ratio of 22.21, a PEG ratio of 1.42 and a beta of 1.34. The stock has a 50-day simple moving average of $26.22 and a 200-day simple moving average of $26.31.

Mosaic Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, March 6th. This is a positive change from Mosaic’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.51%. Mosaic’s payout ratio is 160.00%.

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.