ICL Group (NYSE:ICL) Shares Gap Down – Here’s Why

by · The Markets Daily

ICL Group Ltd (NYSE:ICL – Get Free Report)’s share price gapped down prior to trading on Monday . The stock had previously closed at $4.05, but opened at $3.95. ICL Group shares last traded at $3.96, with a volume of 171,330 shares.

Analyst Ratings Changes

A number of research firms recently commented on ICL. StockNews.com cut shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 30th. Barclays cut their target price on ICL Group from $4.50 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, August 16th.

Read Our Latest Report on ICL

ICL Group Stock Performance

The firm has a 50-day moving average price of $4.14 and a two-hundred day moving average price of $4.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.62 and a quick ratio of 0.94. The firm has a market capitalization of $5.24 billion, a P/E ratio of 10.95, a P/E/G ratio of 5.71 and a beta of 1.22.

ICL Group (NYSE:ICL – Get Free Report) last issued its earnings results on Wednesday, August 14th. The basic materials company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. ICL Group had a net margin of 6.08% and a return on equity of 8.41%. During the same period last year, the company posted $0.13 earnings per share. On average, analysts forecast that ICL Group Ltd will post 0.34 EPS for the current fiscal year.

ICL Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a $0.037 dividend. This represents a $0.15 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Wednesday, September 4th. ICL Group’s dividend payout ratio is 37.84%.

Hedge Funds Weigh In On ICL Group

Several institutional investors have recently made changes to their positions in the company. Y.D. More Investments Ltd raised its holdings in shares of ICL Group by 2,927,153.2% in the 2nd quarter. Y.D. More Investments Ltd now owns 14,636,266 shares of the basic materials company’s stock valued at $62,766,000 after purchasing an additional 14,635,766 shares in the last quarter. Altshuler Shaham Ltd lifted its holdings in ICL Group by 3.2% during the second quarter. Altshuler Shaham Ltd now owns 44,119,257 shares of the basic materials company’s stock worth $189,200,000 after buying an additional 1,360,670 shares during the period. Meitav Investment House Ltd. lifted its holdings in ICL Group by 2.8% during the second quarter. Meitav Investment House Ltd. now owns 17,215,645 shares of the basic materials company’s stock worth $73,813,000 after buying an additional 465,031 shares during the period. Vanguard Group Inc. boosted its position in ICL Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 24,894,017 shares of the basic materials company’s stock valued at $124,719,000 after acquiring an additional 419,241 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of ICL Group by 931.7% in the 1st quarter. Tidal Investments LLC now owns 320,210 shares of the basic materials company’s stock worth $1,723,000 after acquiring an additional 289,174 shares in the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

About ICL Group

(Get Free Report)

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.

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