Ballentine Partners LLC Increases Stock Position in ICL Group Ltd (NYSE:ICL)

Ballentine Partners LLC lifted its holdings in shares of ICL Group Ltd (NYSE:ICL) by 102.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,607 shares of the basic materials company’s stock after purchasing an additional 26,067 shares during the period. Ballentine Partners LLC’s holdings in ICL Group were worth $278,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in ICL Group by 18.5% during the third quarter. PNC Financial Services Group Inc. now owns 29,535 shares of the basic materials company’s stock worth $164,000 after buying an additional 4,609 shares in the last quarter. Hsbc Holdings PLC raised its stake in ICL Group by 3.8% in the 3rd quarter. Hsbc Holdings PLC now owns 113,968 shares of the basic materials company’s stock valued at $628,000 after purchasing an additional 4,192 shares during the last quarter. Acadian Asset Management LLC raised its stake in ICL Group by 75.1% in the 3rd quarter. Acadian Asset Management LLC now owns 185,327 shares of the basic materials company’s stock valued at $1,023,000 after purchasing an additional 79,459 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in ICL Group by 36.1% in the 3rd quarter. CWA Asset Management Group LLC now owns 2,405,516 shares of the basic materials company’s stock valued at $13,351,000 after purchasing an additional 637,755 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of ICL Group by 507.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 922,396 shares of the basic materials company’s stock worth $5,105,000 after purchasing an additional 770,442 shares during the last quarter. 13.38% of the stock is currently owned by institutional investors and hedge funds.

ICL Group Price Performance

Shares of NYSE:ICL opened at $4.32 on Wednesday. The company has a market cap of $5.68 billion, a P/E ratio of 11.68, a P/E/G ratio of 6.34 and a beta of 1.26. The business has a fifty day simple moving average of $4.66 and a 200-day simple moving average of $4.85. ICL Group Ltd has a 52 week low of $4.30 and a 52 week high of $6.73. The company has a quick ratio of 0.93, a current ratio of 1.60 and a debt-to-equity ratio of 0.31.

ICL Group (NYSE:ICL) last issued its quarterly earnings results on Thursday, May 9th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. ICL Group had a return on equity of 9.05% and a net margin of 6.68%. 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 company earned $0.23 EPS. Equities research analysts forecast that ICL Group Ltd will post 0.33 EPS for the current year.

ICL Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a $0.0457 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.18 dividend on an annualized basis and a yield of 4.24%. ICL Group’s payout ratio is 48.65%.

Analyst Upgrades and Downgrades

Separately, Barclays boosted their price objective on shares of ICL Group from $4.00 to $4.50 and gave the company an “underweight” rating in a research report on Friday, March 1st.

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.