ICL Group Ltd (NYSE:ICL) Shares Acquired by Cadence Wealth Management LLC

Cadence Wealth Management LLC grew its holdings in ICL Group Ltd (NYSE:ICL) by 60.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 93,904 shares of the basic materials company’s stock after buying an additional 35,519 shares during the period. Cadence Wealth Management LLC’s holdings in ICL Group were worth $465,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Lindbrook Capital LLC raised its stake in shares of ICL Group by 56.8% in the fourth 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 during the last quarter. Claro Advisors LLC raised its stake in shares of ICL Group by 18.4% in the fourth quarter. Claro Advisors LLC now owns 18,458 shares of the basic materials company’s stock worth $91,000 after purchasing an additional 2,872 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of ICL Group by 35.6% in the third quarter. Quantbot Technologies LP now owns 11,380 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 2,985 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of ICL Group by 40.5% in the third quarter. Glenmede Trust Co. NA now owns 14,368 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 4,140 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ICL Group by 2.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 236,244 shares of the basic materials company’s stock worth $1,167,000 after purchasing an additional 5,787 shares during the last quarter. Institutional investors and hedge funds own 13.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ICL Group Stock Up 1.2 %

Shares of ICL stock opened at $6.33 on Tuesday. The stock has a 50 day moving average of $5.92 and a 200 day moving average of $4.95. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.30. The stock has a market cap of $8.31 billion, a P/E ratio of 20.40, a P/E/G ratio of 7.10 and a beta of 1.21. ICL Group Ltd has a twelve month low of $3.79 and a twelve month high of $6.57.

ICL Group (NYSE:ICL) last announced its quarterly earnings results on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $1.60 billion during 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%. As a group, sell-side analysts expect that ICL Group Ltd will post 0.37 EPS 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 given a $0.0403 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. 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 2.55%. ICL Group’s payout ratio is 50.00%.

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.