Point72 Asset Management L.P. Acquires Shares of 309,743 ICL Group Ltd (NYSE:ICL)

Point72 Asset Management L.P. purchased a new stake in ICL Group Ltd (NYSE:ICL - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 309,743 shares of the basic materials company's stock, valued at approximately $1,316,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ICL. Crossmark Global Holdings Inc. acquired a new stake in ICL Group in the 3rd quarter valued at $6,689,000. Y.D. More Investments Ltd raised its stake in ICL Group by 2,927,153.2% in the second quarter. Y.D. More Investments Ltd now owns 14,636,266 shares of the basic materials company's stock valued at $62,766,000 after buying an additional 14,635,766 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of ICL Group in the third quarter valued at about $11,967,000. Townsquare Capital LLC acquired a new stake in ICL Group during the third quarter worth approximately $56,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of ICL Group by 24.4% during the third quarter. Public Sector Pension Investment Board now owns 401,343 shares of the basic materials company's stock worth $1,713,000 after acquiring an additional 78,809 shares during the period. 13.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ICL has been the topic of several analyst reports. StockNews.com raised ICL Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, November 12th. Barclays dropped their price objective on ICL Group from $4.50 to $4.00 and set an "underweight" rating for the company in a research report on Friday, August 16th.

ICL Group Trading Up 1.4 %

Shares of ICL traded up $0.07 during trading hours on Wednesday, hitting $5.09. 301,227 shares of the stock were exchanged, compared to its average volume of 788,486. The firm has a market capitalization of $6.69 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 6.81 and a beta of 1.25. 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 Ltd has a fifty-two week low of $3.79 and a fifty-two week high of $5.54. The business has a 50-day moving average of $4.35 and a 200-day moving average of $4.33.

ICL Group (NYSE:ICL - Get Free Report) last issued its earnings results on Monday, November 11th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm earned $0.11 earnings per share. On average, research analysts expect that ICL Group Ltd will post 0.35 EPS for the current year.

ICL Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.0133 dividend. This represents a $0.05 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, December 4th. ICL Group's dividend payout ratio (DPR) is presently 48.39%.

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.