Wall Street Zen upgraded shares of ICL Group (NYSE:ICL – Free Report) from a hold rating to a buy rating in a research report released on Saturday morning.
Several other equities analysts also recently issued reports on the company. Barclays reduced their price objective on ICL Group from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Monday, July 27th. Weiss Ratings restated a “hold (c)” rating on shares of ICL Group in a research report on Friday, July 31st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, ICL Group has an average rating of “Hold” and an average price target of $6.00.
Check Out Our Latest Analysis on ICL Group
ICL Group Trading Down 1.6%
ICL Group (NYSE:ICL – Get Free Report) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. ICL Group had a net margin of 3.95% and a return on equity of 8.40%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Sell-side analysts anticipate that ICL Group will post 0.44 earnings per share for the current year.
ICL Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.0581 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.23 dividend on an annualized basis and a dividend yield of 4.3%. This is an increase from ICL Group’s previous quarterly dividend of $0.05. ICL Group’s dividend payout ratio (DPR) is currently 66.67%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in ICL. Meitav Investment House Ltd. raised its holdings in ICL Group by 3.8% during the first quarter. Meitav Investment House Ltd. now owns 29,770,104 shares of the basic materials company’s stock worth $152,333,000 after purchasing an additional 1,081,641 shares in the last quarter. Vanguard Group Inc. boosted its stake in ICL Group by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 29,066,383 shares of the basic materials company’s stock valued at $167,132,000 after purchasing an additional 382,780 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in ICL Group by 96.6% during the 4th quarter. Altshuler Shaham Ltd now owns 26,349,667 shares of the basic materials company’s stock valued at $151,160,000 after purchasing an additional 12,946,737 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in shares of ICL Group by 12.8% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 22,040,479 shares of the basic materials company’s stock valued at $112,812,000 after purchasing an additional 2,502,702 shares during the period. Finally, Norges Bank acquired a new position in shares of ICL Group during the 4th quarter valued at $122,297,000. Institutional investors and hedge funds own 13.38% of the company’s stock.
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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