42,960 Shares in The Mosaic Company (NYSE:MOS) Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp purchased a new stake in The Mosaic Company (NYSE:MOS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,960 shares of the basic materials company’s stock, valued at approximately $1,056,000.

Other hedge funds have also added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Mosaic by 27.9% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 12,068 shares of the basic materials company’s stock valued at $297,000 after purchasing an additional 2,634 shares during the period. Hourglass Capital LLC bought a new position in Mosaic in the 4th quarter valued at about $1,035,000. Asset Management One Co. Ltd. lifted its position in Mosaic by 1.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 122,893 shares of the basic materials company’s stock worth $2,933,000 after acquiring an additional 1,489 shares during the last quarter. Tobam bought a new stake in shares of Mosaic during the fourth quarter worth approximately $38,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Mosaic by 1.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,516 shares of the basic materials company’s stock valued at $799,000 after purchasing an additional 570 shares during the last quarter. Institutional investors and hedge funds own 77.54% of the company’s stock.

Mosaic Stock Performance

Shares of Mosaic stock opened at $25.77 on Friday. 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 company has a market cap of $8.18 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.45 and a beta of 1.34. The company has a 50 day moving average of $26.20 and a 200-day moving average of $26.51. The Mosaic Company has a 1-year low of $23.56 and a 1-year high of $33.44.

Mosaic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Mosaic’s previous quarterly dividend of $0.21. Mosaic’s dividend payout ratio (DPR) is currently 74.34%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler lifted their price target on Mosaic from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $30.00 target price on shares of Mosaic in a report on Thursday, November 14th. Oppenheimer began coverage on shares of Mosaic in a research note on Thursday, December 12th. They issued a “market perform” rating on the stock. Mizuho lifted their price objective on shares of Mosaic from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. 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 research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.80.

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.