Acadian Asset Management LLC Trims Holdings in ICL Group Ltd (NYSE:ICL)

Acadian Asset Management LLC lowered its position in shares of ICL Group Ltd (NYSE:ICL) by 86.3% in the second quarter, Holdings Channel reports. The institutional investor owned 11,954 shares of the basic materials company’s stock after selling 75,498 shares during the period. Acadian Asset Management LLC’s holdings in ICL Group were worth $51,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its position in ICL Group by 103.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 7,093 shares of the basic materials company’s stock worth $38,000 after buying an additional 3,612 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in ICL Group during the 1st quarter worth $54,000. Callan Capital LLC purchased a new position in ICL Group during the 1st quarter worth $60,000. Greenleaf Trust purchased a new position in ICL Group during the 1st quarter worth $63,000. Finally, Sivia Capital Partners LLC purchased a new position in ICL Group during the 4th quarter worth $70,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

ICL Group Stock Performance

NYSE:ICL opened at $3.80 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.62 and a debt-to-equity ratio of 0.31. ICL Group Ltd has a fifty-two week low of $3.80 and a fifty-two week high of $5.72. The stock has a market cap of $4.99 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 5.36 and a beta of 1.23. The firm’s fifty day simple moving average is $4.24 and its 200-day simple moving average is $4.58.

ICL Group (NYSE:ICL) last posted its quarterly earnings results on Wednesday, August 14th. The basic materials company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. ICL Group had a net margin of 6.08% and a return on equity of 8.41%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company posted $0.13 EPS. Analysts expect that ICL Group Ltd will post 0.36 earnings per share for the current fiscal year.

ICL Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.037 per share. This represents a $0.15 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Wednesday, September 4th. ICL Group’s payout ratio is currently 37.84%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of ICL Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Barclays lowered their price target on shares of ICL Group from $4.50 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, August 16th.

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.