UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Holdings in ICL Group Ltd (NYSE:ICL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of ICL Group Ltd (NYSE:ICL) by 9.9% in the third quarter, Holdings Channel reports. The institutional investor owned 1,335,527 shares of the basic materials company’s stock after buying an additional 120,169 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in ICL Group were worth $5,676,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Public Sector Pension Investment Board raised its stake in ICL Group by 24.4% during the third quarter. Public Sector Pension Investment Board now owns 401,343 shares of the basic materials company’s stock valued at $1,713,000 after buying an additional 78,809 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ICL Group by 11.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 230,457 shares of the basic materials company’s stock valued at $984,000 after buying an additional 24,309 shares during the last quarter. Glenmede Trust Co. NA raised its stake in ICL Group by 40.5% during the third quarter. Glenmede Trust Co. NA now owns 14,368 shares of the basic materials company’s stock valued at $61,000 after buying an additional 4,140 shares during the last quarter. Townsquare Capital LLC purchased a new position in ICL Group during the third quarter valued at $56,000. Finally, Quantbot Technologies LP raised its stake in ICL Group by 35.6% during the third quarter. Quantbot Technologies LP now owns 11,380 shares of the basic materials company’s stock valued at $48,000 after buying an additional 2,985 shares during the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

ICL Group Stock Down 1.4 %

ICL stock opened at $5.02 on Wednesday. ICL Group Ltd has a 1-year low of $3.79 and a 1-year high of $5.54. The business has a fifty day moving average price of $4.35 and a 200-day moving average price of $4.33. 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 stock has a market capitalization of $6.60 billion, a P/E ratio of 16.19, a P/E/G ratio of 6.81 and a beta of 1.25.

ICL Group (NYSE:ICL) last issued its quarterly earnings data on Monday, November 11th. The basic materials company reported $0.11 EPS for the quarter, topping 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 company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share. Equities analysts forecast that ICL Group Ltd will post 0.35 earnings per share for the current fiscal 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 issued a $0.0133 dividend. This represents a $0.05 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Wednesday, December 4th. ICL Group’s payout ratio is currently 48.39%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ICL. Barclays decreased their price target on ICL Group from $4.50 to $4.00 and set an “underweight” rating for the company in a research note on Friday, August 16th. StockNews.com upgraded ICL Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th.

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.