ICL Group (NYSE:ICL) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of ICL Group (NYSE:ICL - Free Report) from a strong-buy rating to a buy rating in a research report released on Thursday.

Several other equities analysts have also recently issued reports on ICL. Barclays raised shares of ICL Group from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $4.00 to $6.00 in a research note on Tuesday, January 21st. BMO Capital Markets lifted their price target on shares of ICL Group from $6.00 to $6.50 and gave the stock a "market perform" rating in a research report on Thursday.

ICL Group Stock Performance

Shares of ICL traded down $0.13 during midday trading on Thursday, hitting $5.90. 1,092,077 shares of the stock traded hands, compared to its average volume of 977,209. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 1.56. ICL Group has a 1-year low of $3.79 and a 1-year high of $6.57. The business's 50 day moving average price is $5.67 and its two-hundred day moving average price is $4.81. The firm has a market capitalization of $7.75 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 7.10 and a beta of 1.23.

ICL Group (NYSE:ICL - Get Free Report) last announced its earnings results on Wednesday, February 26th. The basic materials company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.65 billion. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. Equities research analysts predict that ICL Group will post 0.37 EPS for the current fiscal year.

ICL Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.0403 per share. The ex-dividend date is Wednesday, March 12th. This is a positive change from ICL Group's previous quarterly dividend of $0.01. This represents a $0.16 dividend on an annualized basis and a yield of 2.73%. ICL Group's dividend payout ratio is currently 40.63%.

Hedge Funds Weigh In On ICL Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in ICL Group by 56.8% during the fourth quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 1,910 shares in the last quarter. Claro Advisors LLC boosted its holdings in ICL Group by 18.4% in the fourth quarter. Claro Advisors LLC now owns 18,458 shares of the basic materials company's stock worth $91,000 after purchasing an additional 2,872 shares in the last quarter. Voya Investment Management LLC increased its position in ICL Group by 2.2% during the fourth quarter. Voya Investment Management LLC now owns 131,878 shares of the basic materials company's stock worth $651,000 after buying an additional 2,876 shares during the last quarter. Quantbot Technologies LP increased its position in ICL Group by 35.6% during the third quarter. Quantbot Technologies LP now owns 11,380 shares of the basic materials company's stock worth $48,000 after buying an additional 2,985 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in ICL Group by 40.5% during the third quarter. Glenmede Trust Co. NA now owns 14,368 shares of the basic materials company's stock valued at $61,000 after buying an additional 4,140 shares in the last quarter. Institutional investors and hedge funds own 13.38% of the company's stock.

About ICL Group

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.