ICL Group (NYSE:ICL) Shares Gap Up to $5.58

ICL Group Ltd (NYSE:ICL)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $5.58, but opened at $5.70. ICL Group shares last traded at $5.76, with a volume of 114,567 shares changing hands.

Analyst Upgrades and Downgrades

ICL has been the topic of several research analyst reports. Barclays decreased their price target on shares of ICL Group from $8.00 to $7.00 in a research report on Thursday, June 1st. StockNews.com started coverage on ICL Group in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $7.00 price target on shares of ICL Group in a report on Wednesday, July 19th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, ICL Group has an average rating of “Hold” and a consensus price target of $7.83.

ICL Group Stock Up 2.9 %

The company has a current ratio of 1.75, a quick ratio of 0.93 and a debt-to-equity ratio of 0.36. The business’s fifty day moving average price is $6.15 and its 200 day moving average price is $6.19. The company has a market capitalization of $7.39 billion, a P/E ratio of 5.12, a P/E/G ratio of 1.95 and a beta of 1.11.

ICL Group (NYSE:ICL) last announced its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. ICL Group had a net margin of 16.47% and a return on equity of 24.99%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the company earned $0.59 earnings per share. As a group, equities research analysts predict that ICL Group Ltd will post 0.55 earnings per share for the current fiscal year.

ICL Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, August 30th were issued a dividend of $0.047 per share. This represents a $0.19 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Tuesday, August 29th. ICL Group’s dividend payout ratio is currently 17.43%.

Institutional Trading of ICL Group

Large investors have recently made changes to their positions in the business. Janiczek Wealth Management LLC raised its stake in shares of ICL Group by 27.3% in the second quarter. Janiczek Wealth Management LLC now owns 31,980 shares of the basic materials company’s stock worth $175,000 after acquiring an additional 6,864 shares during the last quarter. Korea Investment CORP boosted its position in ICL Group by 51.9% in the 4th quarter. Korea Investment CORP now owns 264,736 shares of the basic materials company’s stock valued at $1,909,000 after buying an additional 90,499 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of ICL Group by 15.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,289,633 shares of the basic materials company’s stock valued at $60,007,000 after buying an additional 1,129,708 shares during the period. Signaturefd LLC raised its position in shares of ICL Group by 35.0% during the first quarter. Signaturefd LLC now owns 37,100 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 9,618 shares during the last quarter. Finally, Drive Wealth Management LLC acquired a new position in ICL Group in the first quarter valued at approximately $94,000. Institutional investors own 14.54% of the company’s stock.

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.