Choreo LLC Acquires Shares of 16,099 ICL Group Ltd (NYSE:ICL)

Choreo LLC acquired a new stake in ICL Group Ltd (NYSE:ICL) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 16,099 shares of the basic materials company’s stock, valued at approximately $67,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in ICL Group by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 25,286,822 shares of the basic materials company’s stock valued at $136,043,000 after buying an additional 392,805 shares during the period. Meitav Investment House Ltd. increased its stake in ICL Group by 2.8% in the 2nd quarter. Meitav Investment House Ltd. now owns 17,215,645 shares of the basic materials company’s stock valued at $73,813,000 after buying an additional 465,031 shares during the period. Norges Bank acquired a new position in ICL Group in the 4th quarter valued at approximately $36,042,000. Tidal Investments LLC increased its stake in ICL Group by 931.7% in the 1st quarter. Tidal Investments LLC now owns 320,210 shares of the basic materials company’s stock valued at $1,723,000 after buying an additional 289,174 shares during the period. Finally, CoreCommodity Management LLC increased its stake in ICL Group by 27.9% in the 4th quarter. CoreCommodity Management LLC now owns 280,976 shares of the basic materials company’s stock valued at $1,408,000 after buying an additional 61,241 shares during the period. Institutional investors and hedge funds own 13.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays dropped their price objective 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. StockNews.com upgraded shares of ICL Group from a “buy” rating to a “strong-buy” rating in a report on Friday.

ICL Group Stock Down 2.8 %

ICL Group stock opened at $3.81 on Friday. The company has a market capitalization of $5.01 billion, a P/E ratio of 10.30, a P/E/G ratio of 5.36 and a beta of 1.23. The firm’s fifty day simple moving average is $4.24 and its 200-day simple moving average is $4.59. The company has a current ratio of 1.62, a quick ratio of 0.94 and a debt-to-equity ratio of 0.31. ICL Group Ltd has a 1-year low of $3.80 and a 1-year high of $5.72.

ICL Group (NYSE:ICL) last released 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 business 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 quarter last year, the firm earned $0.13 EPS. Sell-side analysts forecast that ICL Group Ltd will post 0.36 earnings per share for the current fiscal year.

ICL Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.037 per share. The ex-dividend date was Wednesday, September 4th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.88%. ICL Group’s dividend payout ratio is currently 37.84%.

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.