ICL Group (NYSE:ICL) Stock Crosses Above Fifty Day Moving Average – Here’s Why

ICL Group Ltd. (NYSE:ICLGet Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $5.39 and traded as high as $5.56. ICL Group shares last traded at $5.5250, with a volume of 1,267,622 shares changing hands.

Analyst Upgrades and Downgrades

ICL has been the subject of several research analyst reports. Wall Street Zen upgraded shares of ICL Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Barclays reduced their target price on ICL Group from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Monday, July 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ICL Group in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.00.

Check Out Our Latest Research Report on ICL

ICL Group Trading Down 1.7%

The stock has a market capitalization of $7.08 billion, a PE ratio of 22.85 and a beta of 0.98. The company’s 50 day moving average price is $5.41 and its two-hundred day moving average price is $5.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.58 and a quick ratio of 0.94.

ICL Group (NYSE:ICLGet Free Report) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. ICL Group had a net margin of 3.95% and a return on equity of 8.40%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.01 billion. As a group, analysts expect that ICL Group Ltd. will post 0.44 earnings per share for the current year.

ICL Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.0581 per share. This represents a $0.23 dividend on an annualized basis and a yield of 4.2%. This is an increase from ICL Group’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 2nd. ICL Group’s dividend payout ratio is presently 70.83%.

Institutional Trading of ICL Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. purchased a new stake in shares of ICL Group in the 1st quarter valued at approximately $54,000. R Squared Ltd purchased a new stake in shares of ICL Group during the 1st quarter valued at approximately $62,000. Greenspring Advisors LLC acquired a new position in ICL Group in the fourth quarter valued at approximately $71,000. Ground Swell Capital LLC acquired a new position in ICL Group in the first quarter valued at approximately $69,000. Finally, Keybank National Association OH purchased a new position in ICL Group in the first quarter worth approximately $101,000. 13.38% of the stock is owned by institutional investors and hedge funds.

About ICL Group

(Get Free Report)

ICL Group Ltd. (NYSE: ICL) is a global specialty minerals and chemicals company headquartered in Israel. The company develops, produces and markets mineral-based products used in agriculture, food, engineered materials and industrial applications.

ICL’s portfolio includes potash and phosphate fertilizers, specialty fertilizers, crop nutrition products and agriculture-focused solutions. It also produces bromine and bromine-based compounds, phosphates, potash-derived industrial materials and specialty chemicals used in areas such as flame retardants, water treatment, food ingredients and energy storage.

The company traces its origins to Israel’s mineral resources and operates production, research, sales and distribution activities across multiple regions, including Israel, Europe, North America, South America and Asia.

Further Reading

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