ICL Group Ltd. (NYSE:ICL – Get Free Report) shot up 6.7% on Wednesday following a stronger than expected earnings report. The company traded as high as $6.83 and last traded at $6.8060. 846,969 shares were traded during trading, a decline of 47% from the average session volume of 1,589,721 shares. The stock had previously closed at $6.38.
The basic materials company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.92 billion. ICL Group had a net margin of 3.16% and a return on equity of 7.44%.
ICL Group Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th were given a $0.0465 dividend. This represents a $0.19 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, March 10th. ICL Group’s dividend payout ratio (DPR) is currently 82.35%.
Analyst Upgrades and Downgrades
Read Our Latest Analysis on ICL
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in ICL. Farther Finance Advisors LLC increased its holdings in ICL Group by 351.2% in the fourth quarter. Farther Finance Advisors LLC now owns 5,157 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 4,014 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of ICL Group in the 4th quarter valued at $38,000. Boothbay Fund Management LLC acquired a new position in shares of ICL Group during the 4th quarter valued at $59,000. Thrivent Financial for Lutherans acquired a new stake in ICL Group in the second quarter worth $72,000. Finally, Centiva Capital LP bought a new stake in ICL Group in the third quarter valued at $69,000. Institutional investors own 13.38% of the company’s stock.
ICL Group Stock Up 6.7%
The company has a market cap of $8.78 billion, a P/E ratio of 40.08 and a beta of 0.86. The stock’s 50-day moving average price is $5.33 and its 200-day moving average price is $5.46. The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 0.30.
ICL Group Company Profile
ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange (NYSE: ICL). The company’s origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.
ICL’s core operations are organized into three principal business areas.
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