Meitav Investment House Ltd. Trims Stock Position in ICL Group Ltd (NYSE:ICL)

Meitav Investment House Ltd. reduced its holdings in ICL Group Ltd (NYSE:ICL - Free Report) by 1.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,944,668 shares of the basic materials company's stock after selling 270,977 shares during the period. ICL Group makes up 1.2% of Meitav Investment House Ltd.'s portfolio, making the stock its 25th largest holding. Meitav Investment House Ltd. owned approximately 1.29% of ICL Group worth $72,529,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. GW Henssler & Associates Ltd. grew its stake in shares of ICL Group by 18.0% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 19,726 shares of the basic materials company's stock worth $84,000 after buying an additional 3,010 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of ICL Group during the 3rd quarter worth about $11,967,000. Litman Gregory Wealth Management LLC purchased a new position in shares of ICL Group during the 3rd quarter worth about $56,000. Greenleaf Trust purchased a new position in shares of ICL Group during the 3rd quarter worth about $135,000. Finally, Glenorchy Capital Ltd boosted its stake in shares of ICL Group by 60.4% during the 3rd quarter. Glenorchy Capital Ltd now owns 322,761 shares of the basic materials company's stock worth $1,372,000 after purchasing an additional 121,512 shares during the period. 13.38% of the stock is owned by hedge funds and other institutional investors.

ICL Group Trading Down 1.2 %

ICL traded down $0.05 on Thursday, reaching $4.12. 404,009 shares of the company traded hands, compared to its average volume of 764,612. The company has a quick ratio of 0.94, a current ratio of 1.62 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $4.15 and a two-hundred day simple moving average of $4.37. ICL Group Ltd has a one year low of $3.79 and a one year high of $5.54. The company has a market cap of $5.41 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 5.78 and a beta of 1.22.

ICL Group (NYSE:ICL - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. ICL Group had a net margin of 6.08% and a return on equity of 8.41%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm earned $0.13 earnings per share. As a group, equities research analysts expect that ICL Group Ltd will post 0.34 earnings per share for the current year.

ICL Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.037 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.59%. ICL Group's dividend payout ratio is presently 37.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ICL shares. Barclays decreased their price objective on shares of ICL Group from $4.50 to $4.00 and set an "underweight" rating for the company in a report on Friday, August 16th. StockNews.com lowered shares of ICL Group from a "strong-buy" rating to a "buy" rating in a report on Monday, September 30th.

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.