SouthState Corp Reduces Position in The Mosaic Company (NYSE:MOS)

SouthState Corp trimmed its position in The Mosaic Company (NYSE:MOS) by 31.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,455 shares of the basic materials company’s stock after selling 23,992 shares during the period. SouthState Corp’s holdings in Mosaic were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MOS. Victory Capital Management Inc. lifted its holdings in shares of Mosaic by 28.8% during the fourth quarter. Victory Capital Management Inc. now owns 763,115 shares of the basic materials company’s stock worth $27,266,000 after purchasing an additional 170,668 shares during the period. Pekin Hardy Strauss Inc. lifted its stake in Mosaic by 5.9% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 319,531 shares of the basic materials company’s stock valued at $11,417,000 after acquiring an additional 17,879 shares during the period. Donald Smith & CO. Inc. lifted its stake in Mosaic by 84.4% during the 4th quarter. Donald Smith & CO. Inc. now owns 597,709 shares of the basic materials company’s stock valued at $21,356,000 after acquiring an additional 273,590 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Mosaic by 6.7% in the 4th quarter. Russell Investments Group Ltd. now owns 684,782 shares of the basic materials company’s stock valued at $24,468,000 after acquiring an additional 43,074 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Mosaic in the fourth quarter worth $248,000. Hedge funds and other institutional investors own 77.54% of the company’s stock.

Mosaic Price Performance

MOS traded up $0.27 on Friday, reaching $28.68. 5,228,977 shares of the company’s stock were exchanged, compared to its average volume of 5,012,657. The stock has a market cap of $9.23 billion, a PE ratio of 12.20, a P/E/G ratio of 1.54 and a beta of 1.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.22 and a quick ratio of 0.57. The Mosaic Company has a twelve month low of $27.83 and a twelve month high of $42.81. The stock’s fifty day moving average price is $31.41 and its 200-day moving average price is $33.08.

Mosaic (NYSE:MOS) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mosaic had a return on equity of 8.19% and a net margin of 6.07%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was down 25.7% on a year-over-year basis. Sell-side analysts expect that The Mosaic Company will post 2.78 EPS for the current year.

Mosaic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, June 6th. Mosaic’s dividend payout ratio (DPR) is presently 35.74%.

Analysts Set New Price Targets

Several equities research analysts have commented on MOS shares. Piper Sandler downgraded Mosaic from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $42.00 to $32.00 in a research report on Thursday, February 29th. Scotiabank raised Mosaic from a “sector perform” rating to a “sector outperform” rating and set a $40.00 target price on the stock in a report on Thursday, February 22nd. The Goldman Sachs Group decreased their price target on Mosaic from $54.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, February 1st. Mizuho cut their price objective on shares of Mosaic from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Friday. Finally, Wolfe Research started coverage on shares of Mosaic in a research note on Friday, March 1st. They set an “outperform” rating and a $39.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Mosaic currently has a consensus rating of “Hold” and a consensus price target of $40.20.

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.