JPMorgan Chase & Co. Decreases Stock Holdings in ICL Group Ltd (NYSE:ICL)

JPMorgan Chase & Co. lessened its stake in ICL Group Ltd (NYSE:ICL) by 46.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,526,974 shares of the basic materials company’s stock after selling 1,299,304 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.12% of ICL Group worth $6,490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Choreo LLC acquired a new position in shares of ICL Group during the 2nd quarter worth about $67,000. DekaBank Deutsche Girozentrale increased its stake in ICL Group by 10.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 37,721 shares of the basic materials company’s stock worth $166,000 after buying an additional 3,667 shares in the last quarter. Altshuler Shaham Ltd raised its holdings in shares of ICL Group by 3.2% during the second quarter. Altshuler Shaham Ltd now owns 44,119,257 shares of the basic materials company’s stock valued at $189,200,000 after acquiring an additional 1,360,670 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of ICL Group by 5.0% in the second quarter. Public Sector Pension Investment Board now owns 322,534 shares of the basic materials company’s stock valued at $1,396,000 after acquiring an additional 15,405 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of ICL Group in the second quarter worth approximately $56,000. 13.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised ICL Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th.

ICL Group Stock Performance

NYSE:ICL opened at $5.74 on Thursday. The company has a market cap of $7.54 billion, a P/E ratio of 18.52, a P/E/G ratio of 6.97 and a beta of 1.22. ICL Group Ltd has a twelve month low of $3.79 and a twelve month high of $5.79. The company’s 50-day moving average price is $4.84 and its 200-day moving average price is $4.43. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.30.

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

ICL Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.0133 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Wednesday, December 4th. ICL Group’s dividend payout ratio (DPR) is currently 45.16%.

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.