Maryland State Retirement & Pension System Has $2.05 Million Holdings in ICL Group Ltd (NYSE:ICL)

Maryland State Retirement & Pension System reduced its stake in shares of ICL Group Ltd (NYSE:ICL) by 19.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 391,588 shares of the basic materials company’s stock after selling 95,363 shares during the quarter. Maryland State Retirement & Pension System’s holdings in ICL Group were worth $2,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Metis Global Partners LLC boosted its position in shares of ICL Group by 28.2% during the fourth quarter. Metis Global Partners LLC now owns 80,307 shares of the basic materials company’s stock worth $403,000 after purchasing an additional 17,682 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of ICL Group by 150.9% in the fourth quarter. First Trust Direct Indexing L.P. now owns 65,864 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 39,617 shares in the last quarter. Cadence Wealth Management LLC acquired a new stake in shares of ICL Group during the fourth quarter worth about $256,000. Glenorchy Capital Ltd bought a new position in shares of ICL Group during the 4th quarter valued at about $722,000. Finally, Significant Wealth Partners LLC acquired a new position in shares of ICL Group in the 4th quarter valued at approximately $220,000. 13.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

ICL Group Stock Down 1.6 %

Shares of NYSE ICL traded down $0.08 during midday trading on Wednesday, reaching $4.82. The company’s stock had a trading volume of 50,843 shares, compared to its average volume of 823,870. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 10.79 and a beta of 1.25. ICL Group Ltd has a fifty-two week low of $4.30 and a fifty-two week high of $6.73. The stock has a 50 day simple moving average of $5.01 and a 200-day simple moving average of $4.93. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 0.30.

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

ICL Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.0476 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.19 dividend on an annualized basis and a dividend yield of 3.95%. This is a boost from ICL Group’s previous quarterly dividend of $0.04. ICL Group’s dividend payout ratio is currently 37.26%.

ICL Group 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.