ICL Group (NYSE:ICL) Trading 8.3% Higher

ICL Group Ltd. (NYSE:ICL) shares traded up 8.3% during mid-day trading on Thursday . The company traded as high as $3.80 and last traded at $3.78. 239,867 shares traded hands during trading, a decline of 3% from the average session volume of 246,360 shares. The stock had previously closed at $3.49.

Separately, Zacks Investment Research downgraded ICL Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 20th.

The stock has a 50-day moving average of $3.62 and a two-hundred day moving average of $3.36. The company has a market cap of $4.84 billion and a P/E ratio of 58.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.51.

ICL Group (NYSE:ICL) last announced its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $1.20 billion for the quarter. ICL Group had a return on equity of 7.76% and a net margin of 1.41%. As a group, sell-side analysts forecast that ICL Group Ltd. will post 0.2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were paid a $0.028 dividend. This is a boost from ICL Group’s previous quarterly dividend of $0.02. This represents a $0.11 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Tuesday, September 1st. ICL Group’s payout ratio is 21.62%.

A number of institutional investors have recently made changes to their positions in ICL. Glenmede Trust Co. NA increased its stake in ICL Group by 85.1% in the 2nd quarter. Glenmede Trust Co. NA now owns 9,936 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 4,568 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in ICL Group in the 1st quarter worth approximately $36,000. Franklin Resources Inc. purchased a new position in shares of ICL Group during the first quarter valued at approximately $39,000. Optas LLC purchased a new position in shares of ICL Group during the second quarter valued at approximately $50,000. Finally, Diversified Trust Co purchased a new position in shares of ICL Group during the second quarter valued at approximately $62,000. 4.30% of the stock is currently owned by institutional investors and hedge funds.

ICL Group Company Profile (NYSE:ICL)

ICL Group Ltd. operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Innovative Ag Solutions (IAS). 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.

Further Reading: Asset Allocation

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