Wall Street Zen cut shares of ICL Group (NYSE:ICL – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.
A number of other equities analysts have also commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of ICL Group in a research note on Friday, July 31st. Barclays reduced their price objective on ICL Group from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.00.
Read Our Latest Analysis on ICL
ICL Group Stock Up 0.2%
ICL Group (NYSE:ICL – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, beating 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 business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.01 billion. Analysts predict that ICL Group will post 0.44 EPS for the current fiscal year.
ICL Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were issued a $0.0581 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, September 2nd. This is a positive change from ICL Group’s previous quarterly dividend of $0.05. ICL Group’s payout ratio is 70.83%.
Institutional Investors Weigh In On ICL Group
Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. bought 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 ICL Group during the 1st quarter valued at $62,000. Ground Swell Capital LLC bought a new stake in ICL Group in the first quarter worth $69,000. Greenspring Advisors LLC bought a new stake in ICL Group in the fourth quarter worth $71,000. Finally, Keybank National Association OH purchased a new position in ICL Group during the first quarter worth $101,000. 13.38% of the stock is owned by institutional investors.
About ICL Group
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.
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