Altshuler Shaham Ltd increased its stake in shares of Israel Chemicals Ltd (NYSE:ICL) by 441.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,370,810 shares of the basic materials company’s stock after buying an additional 1,117,665 shares during the quarter. Israel Chemicals comprises approximately 0.4% of Altshuler Shaham Ltd’s investment portfolio, making the stock its 25th biggest holding. Altshuler Shaham Ltd’s holdings in Israel Chemicals were worth $8,390,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Artemis Investment Management LLP purchased a new stake in shares of Israel Chemicals during the third quarter valued at $49,871,000. FMR LLC acquired a new position in Israel Chemicals during the third quarter valued at $25,668,000. Swiss National Bank lifted its position in Israel Chemicals by 2.7% during the second quarter. Swiss National Bank now owns 2,652,169 shares of the basic materials company’s stock valued at $12,117,000 after purchasing an additional 70,216 shares during the period. Van ECK Associates Corp lifted its position in Israel Chemicals by 40.4% during the second quarter. Van ECK Associates Corp now owns 2,014,048 shares of the basic materials company’s stock valued at $9,265,000 after purchasing an additional 579,976 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Israel Chemicals by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 1,982,567 shares of the basic materials company’s stock valued at $11,955,000 after purchasing an additional 19,052 shares during the period. 9.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on ICL. Zacks Investment Research upgraded shares of Israel Chemicals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. ValuEngine upgraded shares of Israel Chemicals from a “hold” rating to a “buy” rating in a research report on Friday, August 24th. Jefferies Financial Group restated a “hold” rating and set a $6.57 target price on shares of Israel Chemicals in a research report on Sunday, October 21st. Finally, BMO Capital Markets restated a “hold” rating and set a $5.25 target price on shares of Israel Chemicals in a research report on Wednesday, September 19th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Israel Chemicals has a consensus rating of “Hold” and a consensus price target of $5.69.
Israel Chemicals (NYSE:ICL) last issued its quarterly earnings data on Thursday, November 1st. The basic materials company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Israel Chemicals had a net margin of 23.84% and a return on equity of 13.67%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share. On average, sell-side analysts predict that Israel Chemicals Ltd will post 0.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Tuesday, December 4th will be given a $0.051 dividend. The ex-dividend date is Monday, December 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.55%. This is an increase from Israel Chemicals’s previous quarterly dividend of $0.04. Israel Chemicals’s dividend payout ratio is 32.26%.
Israel Chemicals Profile
Israel Chemicals Ltd. operates as a specialty minerals company worldwide. The company operates through two segments, Essential Minerals and Specialty Solutions. The company extracts potash from the Dead Sea; mines and produces potash, salt, and Polysulphate; and produces, markets, and sells pure magnesium and magnesium alloys, as well as produces dry carnallite and related by-products, including chlorine and sylvinite.
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