ICL Group (NYSE:ICL) Shares Gap Up - Still a Buy?

Shares of ICL Group Ltd (NYSE:ICL - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $4.80, but opened at $4.95. ICL Group shares last traded at $4.90, with a volume of 128,205 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded ICL Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, November 12th.

ICL Group Price Performance

The company's fifty day moving average is $4.59 and its two-hundred day moving average is $4.36. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 6.97 and a beta of 1.25. 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 (NYSE:ICL - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The basic materials company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Equities research analysts forecast that ICL Group Ltd will post 0.35 EPS for the current year.

ICL Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a $0.0133 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.08%. ICL Group's payout ratio is currently 45.16%.

Institutional Investors Weigh In On ICL Group

A number of hedge funds have recently added to or reduced their stakes in ICL. Quantbot Technologies LP increased its stake in ICL Group by 35.6% during the 3rd quarter. Quantbot Technologies LP now owns 11,380 shares of the basic materials company's stock valued at $48,000 after buying an additional 2,985 shares during the period. Marshall Wace LLP purchased a new stake in shares of ICL Group in the 2nd quarter valued at approximately $56,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of ICL Group in the third quarter valued at $56,000. Townsquare Capital LLC acquired a new stake in ICL Group during the 3rd quarter worth about $56,000. Finally, Pitcairn Co. acquired a new stake in shares of ICL Group during the third quarter worth approximately $59,000. 13.38% of the stock is currently owned by institutional investors.

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.