The Manufacturers Life Insurance Company Has $2.28 Million Stock Holdings in ICL Group Ltd (NYSE:ICL)

The Manufacturers Life Insurance Company increased its holdings in ICL Group Ltd (NYSE:ICL) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 526,644 shares of the basic materials company’s stock after purchasing an additional 31,350 shares during the period. The Manufacturers Life Insurance Company’s holdings in ICL Group were worth $2,281,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in ICL Group by 1.6% in the first quarter. Vanguard Group Inc. now owns 25,286,822 shares of the basic materials company’s stock worth $136,043,000 after purchasing an additional 392,805 shares in the last quarter. Y.D. More Investments Ltd increased its holdings in shares of ICL Group by 2,927,153.2% during the second quarter. Y.D. More Investments Ltd now owns 14,636,266 shares of the basic materials company’s stock worth $62,766,000 after buying an additional 14,635,766 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of ICL Group during the fourth quarter worth approximately $403,000. Inspire Investing LLC increased its holdings in shares of ICL Group by 23.6% during the first quarter. Inspire Investing LLC now owns 21,774 shares of the basic materials company’s stock worth $117,000 after buying an additional 4,162 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of ICL Group by 8.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 34,054 shares of the basic materials company’s stock worth $180,000 after buying an additional 2,542 shares in the last quarter. Institutional investors and hedge funds own 13.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ICL shares. Barclays dropped their price objective on shares of ICL Group from $4.50 to $4.00 and set an “underweight” rating for the company in a report on Friday, August 16th. StockNews.com lowered shares of ICL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, September 30th.

ICL Group Price Performance

ICL opened at $4.10 on Thursday. ICL Group Ltd has a one year low of $3.79 and a one year high of $5.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.62 and a quick ratio of 0.94. The company’s 50 day simple moving average is $4.14 and its 200-day simple moving average is $4.49. The stock has a market capitalization of $5.39 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 5.06 and a beta of 1.22.

ICL Group (NYSE:ICL) last released its quarterly earnings results on Wednesday, August 14th. The basic materials company reported $0.10 EPS for the quarter, beating the consensus estimate 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 firm earned $0.13 earnings per share. Sell-side analysts anticipate that ICL Group Ltd will post 0.36 earnings per share for the current fiscal year.

ICL Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.037 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.15 annualized dividend and a dividend yield of 3.61%. ICL Group’s dividend payout ratio (DPR) is currently 37.84%.

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.