ICL Group (NYSE:ICL) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of ICL Group (NYSE:ICL) from a buy rating to a hold rating in a research report released on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of ICL Group in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.10.

ICL Group Stock Performance

ICL Group stock opened at $5.38 on Friday. ICL Group has a 52 week low of $4.76 and a 52 week high of $7.35. The company’s 50 day moving average price is $5.38 and its two-hundred day moving average price is $5.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.33 and a quick ratio of 0.71.

ICL Group (NYSE:ICL) last released its earnings results on Wednesday, February 18th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.77 billion. ICL Group had a return on equity of 7.44% and a net margin of 3.16%. On average, research analysts predict that ICL Group will post 0.37 EPS for the current year.

ICL Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.0465 per share. The ex-dividend date is Tuesday, March 10th. This represents a $0.19 annualized dividend and a dividend yield of 3.5%. ICL Group’s dividend payout ratio (DPR) is presently 82.35%.

Hedge Funds Weigh In On ICL Group

Several institutional investors have recently bought and sold shares of ICL. Vanguard Group Inc. increased its position in ICL Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 29,066,383 shares of the basic materials company’s stock worth $167,132,000 after buying an additional 382,780 shares during the last quarter. Altshuler Shaham Ltd raised its stake in shares of ICL Group by 96.6% during the 4th quarter. Altshuler Shaham Ltd now owns 26,349,667 shares of the basic materials company’s stock valued at $151,160,000 after purchasing an additional 12,946,737 shares during the period. Norges Bank bought a new stake in shares of ICL Group during the 4th quarter valued at $122,297,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in ICL Group by 42.3% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 19,537,777 shares of the basic materials company’s stock worth $112,054,000 after purchasing an additional 5,805,699 shares in the last quarter. Finally, Y.D. More Investments Ltd lifted its holdings in ICL Group by 5.5% during the 4th quarter. Y.D. More Investments Ltd now owns 18,738,939 shares of the basic materials company’s stock worth $107,498,000 after purchasing an additional 979,321 shares in the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

About ICL Group

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange (NYSE: ICL). The company’s origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL’s core operations are organized into three principal business areas.