ICL Group (NYSE:ICL) Shares Gap Down – Here’s What Happened

ICL Group Ltd (NYSE:ICL) shares gapped down prior to trading on Monday . The stock had previously closed at $4.05, but opened at $3.95. ICL Group shares last traded at $3.96, with a volume of 171,330 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on ICL shares. Barclays cut their target price on shares of ICL Group from $4.50 to $4.00 and set an “underweight” rating for the company in a research report on Friday, August 16th. StockNews.com cut ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 30th.

ICL Group Stock Down 1.8 %

The firm has a 50-day moving average price of $4.15 and a two-hundred day moving average price of $4.44. The company has a market capitalization of $5.15 billion, a P/E ratio of 10.59, a PEG ratio of 5.71 and a beta of 1.22. The company has a quick ratio of 0.94, a current ratio of 1.62 and a debt-to-equity ratio of 0.31.

ICL Group (NYSE:ICL) last issued its quarterly earnings results on Wednesday, August 14th. The basic materials company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. ICL Group had a net margin of 6.08% and a return on equity of 8.41%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $0.13 EPS. Equities research analysts anticipate that ICL Group Ltd will post 0.34 EPS for the current fiscal year.

ICL Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $0.037 per share. This represents a $0.15 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Wednesday, September 4th. ICL Group’s dividend payout ratio (DPR) is presently 37.84%.

Hedge Funds Weigh In On ICL Group

Several large investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its position in shares of ICL Group by 8.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 34,054 shares of the basic materials company’s stock valued at $180,000 after purchasing an additional 2,542 shares during the period. PNC Financial Services Group Inc. boosted its stake in ICL Group by 8.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 32,115 shares of the basic materials company’s stock worth $161,000 after buying an additional 2,580 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in ICL Group by 103.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 7,093 shares of the basic materials company’s stock valued at $38,000 after buying an additional 3,612 shares during the period. Inspire Investing LLC raised its stake in shares of ICL Group by 23.6% in the 1st quarter. Inspire Investing LLC now owns 21,774 shares of the basic materials company’s stock valued at $117,000 after buying an additional 4,162 shares in the last quarter. Finally, Optas LLC lifted its holdings in shares of ICL Group by 18.1% during the 2nd quarter. Optas LLC now owns 28,782 shares of the basic materials company’s stock worth $123,000 after acquiring an additional 4,410 shares during the period. Institutional investors and hedge funds own 13.38% of the company’s stock.

About ICL Group

ICL Group Ltd, together with its subsidiaries, operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Growing Solutions. The Industrial Products segment produces bromine out of a solution that is a by-product of the potash production process, as well as bromine-based compounds; produces various grades of potash, salt, magnesium chloride, and magnesia products; and produces and markets phosphorous-based flame retardants and other phosphorus-based products.