The Mosaic Company Plans Quarterly Dividend of $0.21 (NYSE:MOS)

The Mosaic Company (NYSE:MOS) announced a quarterly dividend on Thursday, August 22nd, Wall Street Journal reports. Investors of record on Thursday, September 5th will be given a dividend of 0.21 per share by the basic materials company on Thursday, September 19th. This represents a $0.84 annualized dividend and a yield of 3.06%. The ex-dividend date is Thursday, September 5th.

Mosaic has raised its dividend payment by an average of 58.7% annually over the last three years. Mosaic has a payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mosaic to earn $1.93 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 43.5%.

Mosaic Price Performance

NYSE:MOS opened at $27.45 on Wednesday. The stock has a market capitalization of $8.83 billion, a PE ratio of 11.68, a P/E/G ratio of 1.80 and a beta of 1.41. The company has a current ratio of 1.16, a quick ratio of 0.54 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $28.27 and a 200 day simple moving average of $29.78. Mosaic has a 1-year low of $26.09 and a 1-year high of $40.67.

Mosaic (NYSE:MOS) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). Mosaic had a return on equity of 6.92% and a net margin of 2.01%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the firm earned $1.04 EPS. Mosaic’s quarterly revenue was down 17.0% compared to the same quarter last year. On average, research analysts expect that Mosaic will post 2.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MOS. Barclays decreased their price target on shares of Mosaic from $39.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. UBS Group lowered their target price on Mosaic from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $30.00 price target on shares of Mosaic in a research note on Monday, August 12th. Piper Sandler lowered their price objective on Mosaic from $29.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 11th. Finally, Wells Fargo & Company reduced their target price on shares of Mosaic from $31.00 to $29.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.33.

Insider Activity at Mosaic

In related news, SVP Walter F. Precourt III sold 39,748 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $27.96, for a total transaction of $1,111,354.08. Following the sale, the senior vice president now owns 136,682 shares in the company, valued at approximately $3,821,628.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mosaic news, SVP Walter F. Precourt III sold 39,748 shares of Mosaic stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $27.96, for a total value of $1,111,354.08. Following the transaction, the senior vice president now owns 136,682 shares in the company, valued at $3,821,628.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kelvin R. Westbrook sold 12,666 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $27.32, for a total value of $346,035.12. Following the transaction, the director now directly owns 34,359 shares of the company’s stock, valued at approximately $938,687.88. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

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.