First Trust Direct Indexing L.P. Sells 2,910 Shares of ICL Group Ltd (NYSE:ICL)

First Trust Direct Indexing L.P. trimmed its holdings in shares of ICL Group Ltd (NYSE:ICL) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,083 shares of the basic materials company’s stock after selling 2,910 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in ICL Group were worth $145,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in ICL Group by 1.6% during the first quarter. Vanguard Group Inc. now owns 25,286,822 shares of the basic materials company’s stock worth $136,043,000 after buying an additional 392,805 shares in the last quarter. Y.D. More Investments Ltd grew its stake in ICL Group by 2,927,153.2% during the second quarter. Y.D. More Investments Ltd now owns 14,636,266 shares of the basic materials company’s stock worth $62,766,000 after buying an additional 14,635,766 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in ICL Group during the third quarter worth about $11,967,000. Inspire Investing LLC grew its stake in ICL Group by 23.6% during the first quarter. Inspire Investing LLC now owns 21,774 shares of the basic materials company’s stock worth $117,000 after buying an additional 4,162 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in ICL Group by 8.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 34,054 shares of the basic materials company’s stock worth $180,000 after buying an additional 2,542 shares in the last quarter. 13.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ICL has been the topic of a number of analyst reports. StockNews.com downgraded shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 30th. Barclays reduced their price target on shares of ICL Group from $4.50 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, August 16th.

ICL Group Trading Down 2.9 %

ICL opened at $4.31 on Wednesday. The company’s 50 day moving average is $4.14 and its 200-day moving average is $4.36. ICL Group Ltd has a 1-year low of $3.79 and a 1-year high of $5.54. The company has a current ratio of 1.62, a quick ratio of 0.94 and a debt-to-equity ratio of 0.31. The company has a market cap of $5.66 billion, a P/E ratio of 13.06, a PEG ratio of 5.84 and a beta of 1.23.

ICL Group (NYSE:ICL) last posted its quarterly earnings results 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. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate 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 EPS. Equities research analysts predict that ICL Group Ltd will post 0.34 earnings per share for the current fiscal year.

ICL Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.037 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.15 dividend on an annualized basis and a yield of 3.43%. ICL Group’s dividend payout ratio (DPR) is presently 45.46%.

ICL Group Company 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.