Ballentine Partners LLC Increases Holdings in ICL Group Ltd (NYSE:ICL)

Ballentine Partners LLC raised its stake in ICL Group Ltd (NYSE:ICL) by 102.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,607 shares of the basic materials company’s stock after buying an additional 26,067 shares during the quarter. Ballentine Partners LLC’s holdings in ICL Group were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Altshuler Shaham Ltd grew its holdings in shares of ICL Group by 0.6% in the fourth quarter. Altshuler Shaham Ltd now owns 43,077,642 shares of the basic materials company’s stock valued at $215,923,000 after purchasing an additional 250,673 shares during the period. Vanguard Group Inc. increased its holdings in shares of ICL Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 24,894,017 shares of the basic materials company’s stock worth $124,719,000 after buying an additional 419,241 shares during the last quarter. Phoenix Holdings Ltd. increased its holdings in shares of ICL Group by 0.9% during the 3rd quarter. Phoenix Holdings Ltd. now owns 15,704,280 shares of the basic materials company’s stock worth $87,159,000 after buying an additional 138,500 shares during the last quarter. Norges Bank purchased a new stake in shares of ICL Group during the 4th quarter valued at approximately $36,042,000. Finally, CWA Asset Management Group LLC lifted its holdings in ICL Group by 36.1% in the third quarter. CWA Asset Management Group LLC now owns 2,405,516 shares of the basic materials company’s stock valued at $13,351,000 after acquiring an additional 637,755 shares during the last quarter. 13.38% of the stock is owned by institutional investors and hedge funds.

ICL Group Trading Down 1.4 %

Shares of ICL stock opened at $4.32 on Wednesday. ICL Group Ltd has a 1-year low of $4.30 and a 1-year high of $6.73. The firm has a market cap of $5.68 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 6.34 and a beta of 1.26. The company has a 50-day moving average of $4.66 and a two-hundred day moving average of $4.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.60 and a quick ratio of 0.93.

ICL Group (NYSE:ICL) last issued its quarterly earnings data on Thursday, May 9th. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.66 billion. ICL Group had a net margin of 6.68% and a return on equity of 9.05%. During the same period in the prior year, the business posted $0.23 EPS. On average, analysts predict that ICL Group Ltd will post 0.33 EPS for the current year.

ICL Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were paid a $0.0457 dividend. The ex-dividend date was Thursday, June 6th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 4.24%. ICL Group’s payout ratio is presently 48.65%.

Wall Street Analysts Forecast Growth

Separately, Barclays lifted their target price on ICL Group from $4.00 to $4.50 and gave the company an “underweight” rating in a research report on Friday, March 1st.

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.