ICL Group (NYSE:ICL) Rating Increased to Equal Weight at Barclays

Barclays upgraded shares of ICL Group (NYSE:ICL) from an underweight rating to an equal weight rating in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage currently has $6.00 target price on the basic materials company’s stock, up from their previous target price of $4.00.

Separately, StockNews.com raised shares of ICL Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th.

ICL Group Trading Up 0.8 %

Shares of ICL opened at $5.96 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.30. ICL Group has a 12-month low of $3.79 and a 12-month high of $6.06. The firm has a 50-day moving average price of $4.94 and a 200 day moving average price of $4.47. The firm has a market capitalization of $7.82 billion, a P/E ratio of 19.21, a P/E/G ratio of 6.73 and a beta of 1.22.

ICL Group (NYSE:ICL) last announced its earnings results on Monday, November 11th. The basic materials company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. During the same quarter last year, the firm posted $0.11 earnings per share. Sell-side analysts forecast that ICL Group will post 0.37 EPS for the current year.

ICL Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.0133 per share. This represents a $0.05 annualized dividend and a yield of 0.89%. The ex-dividend date was Wednesday, December 4th. ICL Group’s dividend payout ratio (DPR) is presently 48.39%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. boosted its stake in shares of ICL Group by 10.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,733,773 shares of the basic materials company’s stock valued at $8,564,000 after purchasing an additional 159,910 shares during the period. Ballentine Partners LLC boosted its stake in shares of ICL Group by 61.2% in the fourth quarter. Ballentine Partners LLC now owns 34,790 shares of the basic materials company’s stock valued at $172,000 after purchasing an additional 13,212 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of ICL Group by 223.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 10,715 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 7,405 shares during the period. Kathmere Capital Management LLC purchased a new position in shares of ICL Group in the fourth quarter valued at approximately $141,000. Finally, Ignite Planners LLC boosted its stake in shares of ICL Group by 5.1% in the fourth quarter. Ignite Planners LLC now owns 157,515 shares of the basic materials company’s stock valued at $797,000 after purchasing an additional 7,598 shares during the period. Hedge funds and other institutional investors own 13.38% 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.