ICL Group (NYSE:ICL) Stock Price Up 2.9% – Here’s What Happened

ICL Group Ltd (NYSE:ICL)’s share price shot up 2.9% during mid-day trading on Monday . The company traded as high as $4.19 and last traded at $4.19. 294,658 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 768,890 shares. The stock had previously closed at $4.07.

Wall Street Analyst Weigh In

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

ICL Group Trading Up 3.4 %

The firm has a fifty day moving average of $4.15 and a 200 day moving average of $4.42. The firm has a market capitalization of $5.53 billion, a PE ratio of 11.00, a P/E/G ratio of 5.71 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.94 and a current ratio of 1.62.

ICL Group (NYSE:ICL) last posted its quarterly earnings data on Wednesday, August 14th. The basic materials company reported $0.10 earnings per share (EPS) 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 company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $0.13 earnings per share. Equities research analysts expect that ICL Group Ltd will post 0.34 EPS for the current year.

ICL Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a $0.037 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.15 dividend on an annualized basis and a yield of 3.52%. ICL Group’s dividend payout ratio is currently 37.84%.

Institutional Trading of ICL Group

Large investors have recently modified their holdings of the business. Glenorchy Capital Ltd boosted its holdings in ICL Group by 60.4% in the third quarter. Glenorchy Capital Ltd now owns 322,761 shares of the basic materials company’s stock valued at $1,372,000 after purchasing an additional 121,512 shares during the last quarter. Blue Trust Inc. raised its position in shares of ICL Group by 99.4% in the 3rd quarter. Blue Trust Inc. now owns 40,617 shares of the basic materials company’s stock valued at $174,000 after purchasing an additional 20,250 shares in the last quarter. Inspire Advisors LLC raised its position in shares of ICL Group by 24.3% in the 3rd quarter. Inspire Advisors LLC now owns 137,034 shares of the basic materials company’s stock valued at $587,000 after purchasing an additional 26,816 shares in the last quarter. Creative Planning boosted its stake in shares of ICL Group by 46.8% during the 3rd quarter. Creative Planning now owns 123,640 shares of the basic materials company’s stock valued at $529,000 after buying an additional 39,410 shares during the last quarter. Finally, Inspire Investing LLC grew its position in shares of ICL Group by 22.3% during the third quarter. Inspire Investing LLC now owns 24,847 shares of the basic materials company’s stock worth $106,000 after buying an additional 4,535 shares in the last quarter. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.