Advisors Asset Management Inc. Sells 35,861 Shares of ICL Group Ltd (NYSE:ICL)

Advisors Asset Management Inc. reduced its holdings in ICL Group Ltd (NYSE:ICL) by 38.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 56,266 shares of the basic materials company’s stock after selling 35,861 shares during the quarter. Advisors Asset Management Inc.’s holdings in ICL Group were worth $239,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Marshall Wace LLP bought a new stake in ICL Group in the second quarter valued at $56,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of ICL Group in the 3rd quarter worth about $56,000. Claro Advisors LLC purchased a new stake in shares of ICL Group in the 3rd quarter worth about $66,000. Choreo LLC bought a new stake in shares of ICL Group during the 2nd quarter valued at about $67,000. Finally, GW Henssler & Associates Ltd. increased its position in shares of ICL Group by 18.0% during the third quarter. GW Henssler & Associates Ltd. now owns 19,726 shares of the basic materials company’s stock valued at $84,000 after buying an additional 3,010 shares during the period. 13.38% of the stock is owned by hedge funds and other institutional investors.

ICL Group Trading Down 1.9 %

Shares of NYSE ICL opened at $4.56 on Friday. ICL Group Ltd has a 1 year low of $3.79 and a 1 year high of $5.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 0.91. The firm has a 50-day moving average of $4.22 and a 200 day moving average of $4.33. The stock has a market cap of $5.99 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 6.44 and a beta of 1.23.

ICL Group (NYSE:ICL) last announced its earnings results on Monday, November 11th. The basic materials company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $0.11 earnings per share. As a group, sell-side analysts expect that ICL Group Ltd will post 0.35 EPS for the current fiscal year.

ICL Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.0133 dividend. This represents a $0.05 annualized dividend and a yield of 1.17%. The ex-dividend date is Wednesday, December 4th. ICL Group’s dividend payout ratio (DPR) is 48.39%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com raised ICL Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Barclays dropped their price target on ICL Group from $4.50 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 16th.

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.