ICL Group Ltd (NYSE:ICL) Shares Sold by Swiss National Bank

Swiss National Bank lowered its holdings in ICL Group Ltd (NYSE:ICL) by 6.4% during the fourth quarter, Holdings Channel reports. The fund owned 2,158,953 shares of the basic materials company’s stock after selling 148,044 shares during the quarter. Swiss National Bank’s holdings in ICL Group were worth $10,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp increased its stake in shares of ICL Group by 65.0% in the third quarter. Stifel Financial Corp now owns 591,187 shares of the basic materials company’s stock worth $2,513,000 after acquiring an additional 232,842 shares during the period. Meitav Investment House Ltd. increased its stake in shares of ICL Group by 21.3% in the fourth quarter. Meitav Investment House Ltd. now owns 20,551,025 shares of the basic materials company’s stock worth $101,391,000 after acquiring an additional 3,606,357 shares during the period. Townsquare Capital LLC acquired a new stake in ICL Group during the third quarter valued at $56,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in ICL Group by 9.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,335,527 shares of the basic materials company’s stock valued at $5,676,000 after buying an additional 120,169 shares during the period. Finally, XTX Topco Ltd acquired a new stake in ICL Group during the third quarter valued at $126,000. Institutional investors and hedge funds own 13.38% of the company’s stock.

ICL Group Stock Down 1.9 %

Shares of NYSE ICL opened at $5.97 on Friday. The company’s 50-day simple moving average is $5.97 and its 200-day simple moving average is $4.97. ICL Group Ltd has a 52-week low of $3.79 and a 52-week high of $6.57. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 7.10 and a beta of 1.21. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.30.

ICL Group (NYSE:ICL) last announced its earnings results on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. Equities analysts predict that ICL Group Ltd will post 0.37 EPS for the current fiscal year.

ICL Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Wednesday, March 12th will be paid a $0.0403 dividend. This is an increase from ICL Group’s previous quarterly dividend of $0.01. This represents a $0.16 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Wednesday, March 12th. ICL Group’s dividend payout ratio (DPR) is currently 50.00%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ICL shares. BMO Capital Markets raised their price target on shares of ICL Group from $6.00 to $6.50 and gave the company a “market perform” rating in a research report on Thursday, February 27th. Barclays raised their price target on shares of ICL Group from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Finally, StockNews.com lowered shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th.

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.