Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in ICL Group Ltd (NYSE:ICL)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ICL Group Ltd (NYSE:ICL) by 11.8% during the third quarter, HoldingsChannel reports. The fund owned 230,457 shares of the basic materials company’s stock after purchasing an additional 24,309 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ICL Group were worth $984,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its stake in ICL Group by 8.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 34,054 shares of the basic materials company’s stock valued at $180,000 after purchasing an additional 2,542 shares during the last quarter. Ignite Planners LLC raised its stake in ICL Group by 9.7% during the 2nd quarter. Ignite Planners LLC now owns 128,114 shares of the basic materials company’s stock worth $551,000 after acquiring an additional 11,328 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in ICL Group by 120.0% in the second quarter. Sequoia Financial Advisors LLC now owns 36,487 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 19,904 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of ICL Group by 93.2% during the second quarter. Blue Trust Inc. now owns 20,367 shares of the basic materials company’s stock worth $87,000 after purchasing an additional 9,823 shares during the last quarter. Finally, Optas LLC increased its position in shares of ICL Group by 18.1% during the second quarter. Optas LLC now owns 28,782 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 4,410 shares in the last quarter. Institutional investors and hedge funds own 13.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ICL. Barclays decreased their target price on ICL Group from $4.50 to $4.00 and set an “underweight” rating for the company in a research report on Friday, August 16th. StockNews.com raised ICL Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th.

ICL Group Trading Down 2.9 %

NYSE ICL opened at $4.87 on Friday. ICL Group Ltd has a one year low of $3.79 and a one year high of $5.54. The firm has a market cap of $6.39 billion, a PE ratio of 15.69, a P/E/G ratio of 6.70 and a beta of 1.25. The firm’s fifty day moving average is $4.30 and its two-hundred day moving average is $4.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 1.56.

ICL Group (NYSE:ICL) last posted its quarterly earnings data on Monday, November 11th. The basic materials company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the business earned $0.11 EPS. Analysts expect that ICL Group Ltd will post 0.35 earnings per share for the current year.

ICL Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.0133 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.05 dividend on an annualized basis and a yield of 1.09%. ICL Group’s dividend payout ratio (DPR) is 48.39%.

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.