ICL Group (NYSE:ICL) Shares Down 3.7% - Here's What Happened

ICL Group Ltd (NYSE:ICL - Get Free Report) shares fell 3.7% on Thursday . The company traded as low as $5.87 and last traded at $5.86. 196,302 shares traded hands during trading, a decline of 75% from the average session volume of 772,056 shares. The stock had previously closed at $6.08.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of ICL Group from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th. Barclays lifted their target price on ICL Group from $6.00 to $7.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th. Finally, BMO Capital Markets upped their price target on ICL Group from $6.00 to $6.50 and gave the company a "market perform" rating in a research report on Thursday, February 27th.

ICL Group Stock Performance

The company's 50-day moving average price is $5.99 and its two-hundred day moving average price is $4.99. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 7.10 and a beta of 1.21. 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 (NYSE:ICL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share for the quarter, hitting analysts' consensus estimates of $0.08. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. On average, equities research analysts anticipate that ICL Group Ltd will post 0.37 EPS for the current fiscal year.

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ICL Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Wednesday, March 12th will be issued a $0.0403 dividend. This is an increase from ICL Group's previous quarterly dividend of $0.01. This represents a $0.16 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, March 12th. ICL Group's payout ratio is presently 50.00%.

Hedge Funds Weigh In On ICL Group

Institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC lifted its position in shares of ICL Group by 56.8% during the 4th quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 1,910 shares during the period. GeoWealth Management LLC raised its holdings in shares of ICL Group by 754.0% during the fourth quarter. GeoWealth Management LLC now owns 7,447 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 6,575 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of ICL Group by 223.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 10,715 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 7,405 shares during the period. Savant Capital LLC bought a new position in shares of ICL Group during the 4th quarter worth about $54,000. Finally, Quantbot Technologies LP grew its stake in shares of ICL Group by 35.6% in 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. 13.38% of the stock is currently owned by institutional investors.

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.