Mackenzie Financial Corp Sells 57,706 Shares of ICL Group Ltd (NYSE:ICL)

Mackenzie Financial Corp trimmed its stake in ICL Group Ltd (NYSE:ICL) by 57.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,186 shares of the basic materials company’s stock after selling 57,706 shares during the period. Mackenzie Financial Corp’s holdings in ICL Group were worth $182,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ICL. DekaBank Deutsche Girozentrale boosted its holdings in ICL Group by 8.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 34,054 shares of the basic materials company’s stock valued at $180,000 after acquiring an additional 2,542 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of ICL Group by 8.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 32,115 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 2,580 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of ICL Group by 103.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 7,093 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 3,612 shares during the last quarter. Inspire Investing LLC increased its stake in ICL Group by 23.6% in the 1st quarter. Inspire Investing LLC now owns 21,774 shares of the basic materials company’s stock worth $117,000 after buying an additional 4,162 shares during the period. Finally, Optas LLC lifted its holdings in ICL Group by 18.1% during the 2nd quarter. Optas LLC now owns 28,782 shares of the basic materials company’s stock valued at $123,000 after buying an additional 4,410 shares in the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ICL shares. StockNews.com downgraded shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 30th. Barclays lowered their target price on ICL Group from $4.50 to $4.00 and set an “underweight” rating for the company in a report on Friday, August 16th.

ICL Group Stock Down 3.2 %

Shares of ICL stock opened at $4.03 on Tuesday. ICL Group Ltd has a fifty-two week low of $3.79 and a fifty-two week high of $5.54. The firm has a market capitalization of $5.29 billion, a PE ratio of 10.88, a P/E/G ratio of 5.06 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.94 and a current ratio of 1.62. The stock’s 50-day simple moving average is $4.15 and its 200-day simple moving average is $4.50.

ICL Group (NYSE:ICL) last posted its quarterly earnings results on Wednesday, August 14th. The basic materials company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. ICL Group had a net margin of 6.08% and a return on equity of 8.41%. During the same period in the prior year, the company earned $0.13 earnings per share. Equities analysts expect that ICL Group Ltd will post 0.36 earnings per share for the current year.

ICL Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a $0.037 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Wednesday, September 4th. ICL Group’s payout ratio is presently 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.