ICL Group (NYSE:ICL) Shares Gap Down to $4.77

ICL Group Ltd (NYSE:ICL)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $4.77, but opened at $4.65. ICL Group shares last traded at $4.64, with a volume of 60,411 shares traded.

Wall Street Analysts Forecast Growth

Separately, Barclays lifted their price target on shares of ICL Group from $4.00 to $4.50 and gave the stock an “underweight” rating in a research note on Friday, March 1st.

ICL Group Price Performance

The company’s 50 day moving average is $4.91 and its 200 day moving average is $4.93. The company has a current ratio of 1.60, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 6.89 and a beta of 1.25.

ICL Group (NYSE:ICL) last announced its quarterly earnings results on Thursday, May 9th. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. ICL Group had a net margin of 6.68% and a return on equity of 9.05%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the business earned $0.23 EPS. Research analysts anticipate that ICL Group Ltd will post 0.33 EPS for the current fiscal year.

ICL Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.0457 per share. This represents a $0.18 annualized dividend and a yield of 3.88%. The ex-dividend date is Thursday, June 6th. ICL Group’s payout ratio is currently 51.35%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV grew its position in ICL Group by 103.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 7,093 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 3,612 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of ICL Group in the first quarter valued at about $54,000. SVB Wealth LLC purchased a new stake in shares of ICL Group in the fourth quarter valued at about $51,000. Blue Trust Inc. boosted its holdings in shares of ICL Group by 45.6% in the fourth quarter. Blue Trust Inc. now owns 11,156 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 3,495 shares in the last quarter. Finally, Callan Capital LLC purchased a new stake in shares of ICL Group in the first quarter valued at about $60,000. 13.38% of the stock is owned by hedge funds and other institutional investors.

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.