Raymond James Financial Inc. Invests $3.60 Million in The Mosaic Company (NYSE:MOS)

Raymond James Financial Inc. acquired a new stake in shares of The Mosaic Company (NYSE:MOS) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 146,436 shares of the basic materials company’s stock, valued at approximately $3,599,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System lifted its position in Mosaic by 0.5% during the fourth quarter. Arizona State Retirement System now owns 92,550 shares of the basic materials company’s stock valued at $2,275,000 after purchasing an additional 471 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Mosaic during the 4th quarter worth $1,054,000. Assetmark Inc. purchased a new position in Mosaic in the fourth quarter worth $503,000. Charles Schwab Investment Management Inc. grew its position in Mosaic by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,368,596 shares of the basic materials company’s stock worth $82,800,000 after acquiring an additional 150,186 shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in Mosaic by 2.5% in the fourth quarter. State of Michigan Retirement System now owns 103,876 shares of the basic materials company’s stock valued at $2,553,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors own 77.54% of the company’s stock.

Analyst Upgrades and Downgrades

MOS has been the subject of several research analyst reports. CIBC began coverage on Mosaic in a research note on Tuesday, December 10th. They set a “neutral” rating and a $55.00 price target for the company. Oppenheimer upgraded Mosaic from a “market perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research report on Thursday, March 20th. Morgan Stanley reduced their price target on shares of Mosaic from $40.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company boosted their price objective on shares of Mosaic from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 19th. Finally, Scotiabank increased their target price on shares of Mosaic from $31.00 to $34.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 19th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.67.

Mosaic Stock Performance

Shares of Mosaic stock opened at $27.45 on Friday. The Mosaic Company has a 1 year low of $22.48 and a 1 year high of $33.44. The firm’s 50-day moving average is $26.58 and its 200 day moving average is $26.19. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 1.42 and a beta of 1.34. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 0.49.

Mosaic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a $0.22 dividend. The ex-dividend date is Thursday, June 5th. This represents a $0.88 annualized dividend and a dividend yield of 3.21%. Mosaic’s dividend payout ratio is presently 160.00%.

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.