ICL Group (NYSE:ICL) Shares Gap Up to $4.74

ICL Group Ltd (NYSE:ICL)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.74, but opened at $4.95. ICL Group shares last traded at $4.94, with a volume of 80,548 shares traded.

Analyst Upgrades and Downgrades

Separately, Barclays raised their target price on shares of ICL Group from $4.00 to $4.50 and gave the stock an “underweight” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.75.

ICL Group Stock Performance

The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of $5.01 and a 200 day moving average price of $4.94. The firm has a market cap of $6.42 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 10.79 and a beta of 1.25.

ICL Group (NYSE:ICL) last released its quarterly earnings results on Wednesday, February 28th. 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 return on equity of 12.04% and a net margin of 8.65%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.68 billion. As a group, equities research analysts expect that ICL Group Ltd will post 0.33 earnings per share for the current fiscal year.

ICL Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, March 14th were given a $0.0476 dividend. This represents a $0.19 annualized dividend and a yield of 3.89%. The ex-dividend date was Wednesday, March 13th. This is a boost from ICL Group’s previous quarterly dividend of $0.04. ICL Group’s dividend payout ratio (DPR) is currently 37.26%.

Hedge Funds Weigh In On ICL Group

Several hedge funds and other institutional investors have recently made changes to their positions in ICL. Massmutual Trust Co. FSB ADV lifted its stake in ICL Group by 103.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 7,093 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 3,612 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of ICL Group during the 4th quarter worth about $51,000. Kathmere Capital Management LLC acquired a new stake in shares of ICL Group during the 1st quarter worth about $54,000. Callan Capital LLC purchased a new stake in ICL Group during the first quarter worth approximately $60,000. Finally, Blue Trust Inc. increased its stake in ICL Group by 45.6% in the fourth quarter. Blue Trust Inc. now owns 11,156 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 3,495 shares during the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

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.