ICL Group (NYSE:ICL) Trading Down 3.7% – Here’s Why

ICL Group Ltd (NYSE:ICL) was down 3.7% during trading on Thursday . The stock traded as low as $5.87 and last traded at $5.86. Approximately 196,302 shares changed hands during trading, a decline of 75% from the average daily volume of 772,056 shares. The stock had previously closed at $6.08.

Analyst Ratings Changes

Several brokerages have issued reports on ICL. BMO Capital Markets boosted their price target on ICL Group from $6.00 to $6.50 and gave the company a “market perform” rating in a research note on Thursday, February 27th. StockNews.com lowered shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Barclays increased their target price on shares of ICL Group from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th.

ICL Group Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 0.91. The firm has a fifty day simple moving average of $5.99 and a 200-day simple moving average of $4.98. The firm has a market cap of $7.73 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 7.10 and a beta of 1.21.

ICL Group (NYSE:ICL) last issued its earnings results on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.65 billion. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. On average, equities research analysts expect that ICL Group Ltd will post 0.37 earnings per share for the current year.

ICL Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.0403 per share. This is a boost from ICL Group’s previous quarterly dividend of $0.01. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, March 12th. ICL Group’s dividend payout ratio (DPR) is currently 50.00%.

Institutional Investors Weigh In On ICL Group

A number of institutional investors and hedge funds have recently made changes to their positions in ICL. Lindbrook Capital LLC increased its holdings in ICL Group by 56.8% during the 4th quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 1,910 shares in the last quarter. GeoWealth Management LLC lifted its holdings in shares of ICL Group by 754.0% in the fourth quarter. GeoWealth Management LLC now owns 7,447 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 6,575 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of ICL Group by 35.6% during the third quarter. Quantbot Technologies LP now owns 11,380 shares of the basic materials company’s stock valued at $48,000 after buying an additional 2,985 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in ICL Group by 223.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 10,715 shares of the basic materials company’s stock worth $53,000 after buying an additional 7,405 shares in the last quarter. Finally, Savant Capital LLC purchased a new stake in ICL Group in the 4th quarter valued at $54,000. Institutional investors and hedge funds own 13.38% of the company’s stock.

ICL Group Company Profile

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.