Norges Bank Acquires Shares of 730,277 ICL Group Ltd (NYSE:ICL)

Norges Bank bought a new position in shares of ICL Group Ltd (NYSE:ICL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 730,277 shares of the basic materials company's stock, valued at approximately $3,610,000. Norges Bank owned about 0.06% of ICL Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ICL. JPMorgan Chase & Co. grew its holdings in shares of ICL Group by 24.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,900,381 shares of the basic materials company's stock valued at $9,388,000 after purchasing an additional 373,407 shares in the last quarter. United Services Automobile Association purchased a new position in ICL Group in the fourth quarter worth about $108,000. Vanguard Group Inc. lifted its stake in shares of ICL Group by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 26,898,125 shares of the basic materials company's stock valued at $132,850,000 after purchasing an additional 626,553 shares during the last quarter. Boston Partners purchased a new position in shares of ICL Group in the 4th quarter worth approximately $1,268,000. Finally, PDS Planning Inc purchased a new stake in ICL Group during the 4th quarter valued at $147,000. 13.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on ICL shares. StockNews.com cut shares of ICL Group from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. Barclays raised their price objective on shares of ICL Group from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. Finally, BMO Capital Markets boosted their price objective on ICL Group from $6.00 to $6.50 and gave the company a "market perform" rating in a report on Thursday, February 27th.

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ICL Group Stock Up 0.9 %

ICL Group stock traded up $0.06 during mid-day trading on Wednesday, reaching $6.38. 45,464 shares of the company were exchanged, compared to its average volume of 788,896. ICL Group Ltd has a 12-month low of $3.79 and a 12-month high of $6.57. The business has a fifty day moving average of $5.98 and a 200 day moving average of $5.22. The firm has a market cap of $8.38 billion, a P/E ratio of 20.60, a PEG ratio of 7.10 and a beta of 1.18. 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 announced its earnings results on Wednesday, February 26th. The basic materials company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. Research analysts anticipate that ICL Group Ltd will post 0.37 earnings per share for the current fiscal year.

ICL Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.0403 per share. The ex-dividend date was 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 dividend yield of 2.53%. ICL Group's payout ratio is 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.