The Mosaic Company Declares Quarterly Dividend of $0.22 (NYSE:MOS)

The Mosaic Company (NYSE:MOS) declared a quarterly dividend on Friday, March 21st, Wall Street Journal reports. Stockholders of record on Thursday, June 5th will be paid a dividend of 0.22 per share by the basic materials company on Thursday, June 19th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Thursday, June 5th.

Mosaic has raised its dividend by an average of 45.1% annually over the last three years. Mosaic has a payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Mosaic to earn $2.20 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 40.0%.

Mosaic Trading Down 1.9 %

MOS stock traded down $0.55 during midday trading on Friday, hitting $27.83. 4,173,801 shares of the company’s stock were exchanged, compared to its average volume of 4,289,323. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.49 and a current ratio of 1.19. The stock’s fifty day moving average price is $26.48 and its 200-day moving average price is $26.17. Mosaic has a one year low of $22.48 and a one year high of $33.44. The company has a market cap of $8.82 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. CIBC initiated coverage on shares of Mosaic in a report on Tuesday, December 10th. They issued a “neutral” rating and a $55.00 price target for the company. JPMorgan Chase & Co. raised shares of Mosaic from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $26.00 to $29.00 in a research note on Monday, March 3rd. Barclays raised Mosaic from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $27.00 to $33.00 in a research note on Wednesday. Mizuho reduced their price objective on Mosaic from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Scotiabank lifted their target price on Mosaic from $31.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.67.

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.