Bank of New York Mellon Corp Has $7.60 Million Stake in ICL Group Ltd (NYSE:ICL)

Bank of New York Mellon Corp lessened its position in ICL Group Ltd (NYSE:ICL - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,537,466 shares of the basic materials company's stock after selling 155,437 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.12% of ICL Group worth $7,595,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICL. Metis Global Partners LLC lifted its holdings in shares of ICL Group by 25.1% in the third quarter. Metis Global Partners LLC now owns 156,749 shares of the basic materials company's stock valued at $668,000 after purchasing an additional 31,461 shares in the last quarter. Claro Advisors LLC acquired a new stake in ICL Group during the 3rd quarter worth about $66,000. Swiss National Bank grew its stake in ICL Group by 0.4% during the 3rd quarter. Swiss National Bank now owns 2,306,997 shares of the basic materials company's stock valued at $9,873,000 after acquiring an additional 8,848 shares in the last quarter. Investors Research Corp acquired a new position in shares of ICL Group in the 3rd quarter valued at about $604,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of ICL Group by 49.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 78,139 shares of the basic materials company's stock worth $335,000 after purchasing an additional 25,992 shares in the last quarter. Institutional investors and hedge funds own 13.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ICL shares. BMO Capital Markets boosted their price objective 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 boosted their price target on shares of ICL Group from $6.00 to $7.00 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Finally, StockNews.com lowered ICL Group from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 27th.

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ICL Group Stock Up 0.4 %

NYSE:ICL traded up $0.03 during mid-day trading on Wednesday, reaching $6.10. The stock had a trading volume of 538,157 shares, compared to its average volume of 921,068. The stock has a market cap of $8.01 billion, a P/E ratio of 19.69, a PEG ratio of 7.10 and a beta of 1.21. The business's 50 day moving average is $5.94 and its 200 day moving average is $4.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 0.91. ICL Group Ltd has a fifty-two week low of $3.79 and a fifty-two week high of $6.57.

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

ICL Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.0403 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.16 dividend on an annualized basis and a yield of 2.64%. This is a boost from ICL Group's previous quarterly dividend of $0.01. ICL Group's dividend payout ratio is presently 50.00%.

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.