Short Interest in Israel Chemicals Ltd (NYSE:ICL) Drops By 41.3%

Israel Chemicals Ltd (NYSE:ICL) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 804,300 shares, a decrease of 41.3% from the July 31st total of 1,370,000 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 162,000 shares, the short-interest ratio is currently 5.0 days.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Israel Chemicals by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 19,161,577 shares of the basic materials company’s stock worth $99,639,000 after purchasing an additional 518,451 shares during the period. Invesco Ltd. boosted its stake in Israel Chemicals by 0.6% during the 2nd quarter. Invesco Ltd. now owns 3,625,463 shares of the basic materials company’s stock worth $18,852,000 after purchasing an additional 20,846 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Israel Chemicals by 65.9% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,521,491 shares of the basic materials company’s stock worth $18,454,000 after purchasing an additional 1,398,864 shares during the period. Bank of New York Mellon Corp boosted its stake in Israel Chemicals by 23.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,705,504 shares of the basic materials company’s stock worth $1,446,607,000 after purchasing an additional 507,268 shares during the period. Finally, Swiss National Bank boosted its stake in Israel Chemicals by 0.6% during the 1st quarter. Swiss National Bank now owns 2,571,372 shares of the basic materials company’s stock worth $13,377,000 after purchasing an additional 15,463 shares during the period. Hedge funds and other institutional investors own 7.12% of the company’s stock.

Shares of Israel Chemicals stock traded up $0.04 during trading hours on Friday, hitting $4.84. The company had a trading volume of 241,700 shares, compared to its average volume of 165,894. The company’s 50-day moving average is $4.94 and its two-hundred day moving average is $5.20. Israel Chemicals has a twelve month low of $4.43 and a twelve month high of $6.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.51 and a quick ratio of 0.85. The company has a market cap of $6.27 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 1.19 and a beta of 0.88.

Israel Chemicals (NYSE:ICL) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Israel Chemicals had a net margin of 9.04% and a return on equity of 14.03%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. Sell-side analysts expect that Israel Chemicals will post 0.42 EPS for the current year.

ICL has been the subject of several research analyst reports. ValuEngine cut shares of Israel Chemicals from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Zacks Investment Research upgraded shares of Israel Chemicals from a “hold” rating to a “strong-buy” rating and set a $6.00 target price for the company in a report on Friday, June 7th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Israel Chemicals currently has an average rating of “Buy” and an average price target of $5.94.

About Israel Chemicals

Israel Chemicals Ltd. operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Innovative Ag Solutions (IAS). 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.

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