ICL Group (NYSE:ICL) PT Lowered to $4.00

ICL Group (NYSE:ICL) had its price objective lowered by Barclays from $4.50 to $4.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an underweight rating on the basic materials company’s stock.

ICL Group Trading Up 0.9 %

NYSE ICL opened at $4.33 on Friday. The firm has a market capitalization of $5.69 billion, a P/E ratio of 11.70, a PEG ratio of 5.90 and a beta of 1.25. The business has a fifty day simple moving average of $4.32 and a 200 day simple moving average of $4.70. ICL Group has a 12 month low of $3.80 and a 12 month high of $6.12. The company has a current ratio of 1.60, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31.

ICL Group (NYSE:ICL) last released its quarterly earnings results on Wednesday, August 14th. The basic materials company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. ICL Group had a return on equity of 9.05% and a net margin of 6.68%. During the same period in the prior year, the firm posted $0.13 EPS. On average, analysts predict that ICL Group will post 0.33 EPS for the current fiscal year.

ICL Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $0.037 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Wednesday, September 4th. ICL Group’s payout ratio is currently 37.84%.

Institutional Investors Weigh In On ICL Group

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of ICL Group by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 25,286,822 shares of the basic materials company’s stock valued at $136,043,000 after purchasing an additional 392,805 shares during the last quarter. Significant Wealth Partners LLC purchased a new stake in shares of ICL Group during the 4th quarter valued at $220,000. Assenagon Asset Management S.A. increased its position in shares of ICL Group by 43.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 723,239 shares of the basic materials company’s stock valued at $3,838,000 after purchasing an additional 218,811 shares during the last quarter. Norges Bank purchased a new stake in shares of ICL Group during the 4th quarter valued at $36,042,000. Finally, Jump Financial LLC increased its position in shares of ICL Group by 550.0% during the 4th quarter. Jump Financial LLC now owns 117,001 shares of the basic materials company’s stock valued at $586,000 after purchasing an additional 99,001 shares during the last quarter. 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.