Swiss National Bank Sells 148,044 Shares of ICL Group Ltd (NYSE:ICL)

Swiss National Bank cut its holdings in shares of ICL Group Ltd (NYSE:ICL) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,158,953 shares of the basic materials company’s stock after selling 148,044 shares during the period. Swiss National Bank owned 0.16% of ICL Group worth $10,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC boosted its stake in shares of ICL Group by 56.8% during the fourth quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 1,910 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of ICL Group by 35.6% during the third quarter. Quantbot Technologies LP now owns 11,380 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 2,985 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of ICL Group by 223.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 10,715 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 7,405 shares in the last quarter. Savant Capital LLC bought a new position in shares of ICL Group during the fourth quarter valued at approximately $54,000. Finally, Townsquare Capital LLC bought a new position in shares of ICL Group during the third quarter valued at approximately $56,000. 13.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays increased their target price on shares of ICL Group from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. BMO Capital Markets increased their target price on shares of ICL Group from $6.00 to $6.50 and gave the company a “market perform” rating in a research report on Thursday, February 27th. Finally, StockNews.com cut shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th.

ICL Group Trading Down 1.9 %

NYSE ICL opened at $5.97 on Friday. The company has a fifty day simple moving average of $5.97 and a two-hundred day simple moving average of $4.97. The stock has a market cap of $7.84 billion, a P/E ratio of 19.24, a P/E/G ratio of 7.10 and a beta of 1.21. ICL Group Ltd has a 12-month low of $3.79 and a 12-month high of $6.57. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.30.

ICL Group (NYSE:ICL) last posted its quarterly earnings results on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. On average, analysts forecast that ICL Group Ltd will post 0.37 earnings per share for the current year.

ICL Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Wednesday, March 12th will be issued a $0.0403 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from ICL Group’s previous quarterly dividend of $0.01. ICL Group’s dividend payout ratio (DPR) is currently 50.00%.

ICL Group Profile

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.