Citigroup Inc. decreased its position in ICL Group Ltd (NYSE:ICL – Free Report) by 68.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,493,515 shares of the basic materials company’s stock after selling 3,309,485 shares during the period. Citigroup Inc. owned 0.12% of ICL Group worth $10,009,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Advisor Group Holdings Inc. boosted its holdings in ICL Group by 1,091.3% in the first quarter. Advisor Group Holdings Inc. now owns 3,002 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 2,750 shares during the last quarter. Quantbot Technologies LP acquired a new position in ICL Group in the first quarter valued at approximately $66,000. Lazard Asset Management LLC acquired a new position in ICL Group in the fourth quarter valued at approximately $58,000. Pathstone Family Office LLC acquired a new position in ICL Group in the third quarter valued at approximately $85,000. Finally, Metis Global Partners LLC acquired a new position in ICL Group in the fourth quarter valued at approximately $76,000. Institutional investors own 14.54% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on ICL shares. StockNews.com started coverage on ICL Group in a report on Thursday, August 17th. They issued a “buy” rating for the company. Bank of America cut shares of ICL Group from a “buy” rating to a “neutral” rating in a report on Thursday, May 18th. Barclays decreased their price objective on shares of ICL Group from $8.00 to $7.00 in a report on Thursday, June 1st. Finally, Morgan Stanley restated an “equal weight” rating and set a $7.00 price objective on shares of ICL Group in a report on Wednesday, July 19th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.83.
Get Our Latest Research Report on ICL Group
ICL Group Stock Performance
ICL stock opened at $6.06 on Thursday. The company has a current ratio of 1.75, a quick ratio of 0.93 and a debt-to-equity ratio of 0.36. The firm has a market cap of $7.80 billion, a PE ratio of 5.56, a P/E/G ratio of 2.08 and a beta of 1.12. The business’s 50-day moving average price is $6.10 and its two-hundred day moving average price is $6.33. ICL Group Ltd has a 1-year low of $4.96 and a 1-year high of $10.71.
ICL Group (NYSE:ICL – Get Free Report) last released its earnings results on Wednesday, August 9th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. ICL Group had a return on equity of 24.99% and a net margin of 16.47%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the company earned $0.59 EPS. As a group, research analysts forecast that ICL Group Ltd will post 0.55 earnings per share for the current year.
ICL Group Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 30th will be given a $0.047 dividend. This represents a $0.19 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Tuesday, August 29th. ICL Group’s dividend payout ratio is currently 32.11%.
ICL Group 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.
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