Barclays Cuts ICL Group (NYSE:ICL) Price Target to $4.00

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

ICL Group Stock Up 0.9 %

Shares of ICL stock opened at $4.29 on Friday. The stock’s 50-day simple moving average is $4.33 and its 200-day simple moving average is $4.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 1.60. The firm has a market capitalization of $5.64 billion, a PE ratio of 11.59, a P/E/G ratio of 5.90 and a beta of 1.25. ICL Group has a fifty-two week low of $3.80 and a fifty-two week high of $6.16.

ICL Group (NYSE:ICL) last announced its quarterly earnings data on Wednesday, August 14th. The basic materials company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. ICL Group had a return on equity of 9.05% and a net margin of 6.68%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company earned $0.13 earnings per share. Equities analysts expect that ICL Group will post 0.33 earnings per share for the current year.

ICL Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $0.037 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.45%. ICL Group’s payout ratio is 48.65%.

Institutional Trading of ICL Group

Hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its stake in shares of ICL Group by 103.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 7,093 shares of the basic materials company’s stock worth $38,000 after buying 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 worth about $54,000. SVB Wealth LLC purchased a new position in ICL Group during the fourth quarter worth approximately $51,000. Callan Capital LLC purchased a new position in ICL Group during the first quarter worth approximately $60,000. Finally, Greenleaf Trust purchased a new position in ICL Group during the first quarter worth approximately $63,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

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.