Resona Asset Management Co. Ltd. Invests $2.35 Million in The Mosaic Company (NYSE:MOS)

Resona Asset Management Co. Ltd. acquired a new position in The Mosaic Company (NYSE:MOS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 95,843 shares of the basic materials company’s stock, valued at approximately $2,347,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MOS. Quantinno Capital Management LP increased its stake in shares of Mosaic by 25.3% in the 3rd quarter. Quantinno Capital Management LP now owns 13,298 shares of the basic materials company’s stock worth $356,000 after purchasing an additional 2,686 shares in the last quarter. Stifel Financial Corp increased its stake in Mosaic by 1.8% in the 3rd quarter. Stifel Financial Corp now owns 73,007 shares of the basic materials company’s stock worth $1,955,000 after buying an additional 1,266 shares in the last quarter. National Bank of Canada FI increased its stake in Mosaic by 27.6% in the 3rd quarter. National Bank of Canada FI now owns 245,099 shares of the basic materials company’s stock worth $6,564,000 after buying an additional 53,072 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Mosaic in the 3rd quarter worth $511,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in Mosaic by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 99,473 shares of the basic materials company’s stock worth $2,664,000 after buying an additional 932 shares in the last quarter. 77.54% of the stock is currently owned by hedge funds and other institutional investors.

Mosaic Stock Up 8.5 %

Shares of NYSE:MOS opened at $24.69 on Thursday. The company has a current ratio of 1.19, a quick ratio of 0.49 and a debt-to-equity ratio of 0.27. The Mosaic Company has a 12 month low of $22.36 and a 12 month high of $33.18. The company has a 50-day moving average price of $25.93 and a 200 day moving average price of $26.15. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.42 and a beta of 1.04.

Mosaic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, June 5th. Mosaic’s payout ratio is 160.00%.

Wall Street Analysts Forecast Growth

MOS has been the subject of a number of analyst reports. Barclays upgraded Mosaic from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $27.00 to $33.00 in a research note on Wednesday, March 19th. Oppenheimer upgraded Mosaic from a “market perform” rating to an “outperform” rating and set a $33.00 price target for the company in a research note on Thursday, March 20th. JPMorgan Chase & Co. upgraded Mosaic from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $26.00 to $29.00 in a research note on Monday, March 3rd. The Goldman Sachs Group assumed coverage on Mosaic in a research note on Thursday, March 13th. They issued a “buy” rating and a $31.00 price target for the company. Finally, Piper Sandler reissued a “neutral” rating and set a $30.00 price objective on shares of Mosaic in a report on Thursday, March 27th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mosaic currently has a consensus rating of “Hold” and a consensus target price of $32.58.

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.