ICL Group (NYSE:ICL) Shares Gap Up to $4.74

ICL Group Ltd (NYSE:ICL) shares gapped up before the market opened on Tuesday . The stock had previously closed at $4.74, but opened at $4.95. ICL Group shares last traded at $4.94, with a volume of 80,548 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Barclays upped their price objective on ICL Group from $4.00 to $4.50 and gave the company an “underweight” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.75.

ICL Group Trading Up 3.2 %

The firm has a market capitalization of $6.42 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 10.79 and a beta of 1.25. The firm has a fifty day simple moving average of $5.01 and a two-hundred day simple moving average of $4.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.88.

ICL Group (NYSE:ICL) last released its quarterly earnings data on Wednesday, February 28th. The basic materials company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. ICL Group had a net margin of 8.65% and a return on equity of 12.04%. On average, equities research analysts anticipate that ICL Group Ltd will post 0.33 earnings per share for the current fiscal year.

ICL Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, March 14th were given a dividend of $0.0476 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.19 annualized dividend and a dividend yield of 3.89%. This is an increase from ICL Group’s previous quarterly dividend of $0.04. ICL Group’s dividend payout ratio is currently 37.26%.

Institutional Investors Weigh In On ICL Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position in ICL Group by 8.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 32,115 shares of the basic materials company’s stock worth $161,000 after acquiring an additional 2,580 shares in the last quarter. Inspire Investing LLC increased its position in shares of ICL Group by 19.1% during the 3rd quarter. Inspire Investing LLC now owns 17,061 shares of the basic materials company’s stock valued at $95,000 after purchasing an additional 2,736 shares during the last quarter. Drive Wealth Management LLC increased its position in shares of ICL Group by 23.1% during the 4th quarter. Drive Wealth Management LLC now owns 17,686 shares of the basic materials company’s stock valued at $89,000 after purchasing an additional 3,317 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of ICL Group by 29.9% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 14,943 shares of the basic materials company’s stock valued at $83,000 after buying an additional 3,436 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in ICL Group by 45.6% in the 4th quarter. Blue Trust Inc. now owns 11,156 shares of the basic materials company’s stock worth $62,000 after buying an additional 3,495 shares during the last quarter. 13.38% of the stock is owned by hedge funds and other institutional investors.

ICL Group Company Profile

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.