ICL Group (NYSE:ICL) Shares Gap Down to $4.19

ICL Group Ltd (NYSE:ICL) shares gapped down before the market opened on Monday . The stock had previously closed at $4.19, but opened at $4.00. ICL Group shares last traded at $3.99, with a volume of 154,559 shares.

Analyst Upgrades and Downgrades

Separately, Barclays lowered their target price on shares of ICL Group from $4.50 to $4.00 and set an “underweight” rating for the company in a research note on Friday, August 16th.

ICL Group Stock Performance

The firm has a market capitalization of $5.08 billion, a P/E ratio of 10.46, a P/E/G ratio of 5.36 and a beta of 1.23. The stock has a fifty day simple moving average of $4.28 and a two-hundred day simple moving average of $4.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.62 and a quick ratio of 0.94.

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 8.41% and a net margin of 6.08%. During the same period in the prior year, the firm posted $0.13 EPS. On average, research analysts predict that ICL Group Ltd will post 0.36 EPS for the current year.

ICL Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a $0.037 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.15 annualized dividend and a yield of 3.82%. ICL Group’s dividend payout ratio (DPR) is 37.84%.

Institutional Trading of ICL Group

Institutional investors and hedge funds have recently modified their holdings of the business. Jump Financial LLC boosted its stake in ICL Group by 550.0% in the fourth quarter. Jump Financial LLC now owns 117,001 shares of the basic materials company’s stock valued at $586,000 after acquiring an additional 99,001 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in ICL Group by 59.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 75,172 shares of the basic materials company’s stock worth $377,000 after buying an additional 27,934 shares during the period. Quadrant Capital Group LLC grew its stake in ICL Group by 90.3% in the 4th quarter. Quadrant Capital Group LLC now owns 34,105 shares of the basic materials company’s stock valued at $171,000 after buying an additional 16,188 shares in the last quarter. Norges Bank bought a new stake in ICL Group during the 4th quarter valued at $36,042,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of ICL Group by 168.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 14,156 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 8,887 shares in 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.