ICL Group (NYSE:ICL) Reaches New 1-Year High – Time to Buy?

ICL Group Ltd (NYSE:ICL) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.04 and last traded at $6.98, with a volume of 1926050 shares traded. The stock had previously closed at $6.61.

Analyst Ratings Changes

A number of brokerages have commented on ICL. BMO Capital Markets lifted their price target on ICL Group from $6.00 to $6.50 and gave the stock a “market perform” rating in a research note on Thursday, February 27th. Wall Street Zen downgraded shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Barclays upped their price target on shares of ICL Group from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th.

ICL Group Stock Down 0.9%

The company has a market capitalization of $8.75 billion, a P/E ratio of 21.48, a PEG ratio of 7.10 and a beta of 1.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 0.91. The company has a 50 day moving average of $6.45 and a 200-day moving average of $5.84.

ICL Group (NYSE:ICL) last issued its quarterly earnings data on Monday, May 19th. The basic materials company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.82 billion. As a group, equities analysts anticipate that ICL Group Ltd will post 0.37 EPS for the current year.

ICL Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.0426 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $0.17 annualized dividend and a yield of 2.56%. This is a boost from ICL Group’s previous quarterly dividend of $0.04. ICL Group’s payout ratio is 51.61%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC boosted its stake in shares of ICL Group by 56.8% during the 4th quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 1,910 shares in the last quarter. GeoWealth Management LLC lifted its holdings in ICL Group by 754.0% in the fourth quarter. GeoWealth Management LLC now owns 7,447 shares of the basic materials company’s stock worth $37,000 after buying an additional 6,575 shares during the period. Savant Capital LLC bought a new stake in ICL Group during the 4th quarter valued at approximately $54,000. Wealthstream Advisors Inc. bought a new stake in ICL Group during the 4th quarter valued at approximately $57,000. Finally, Seven Mile Advisory purchased a new position in shares of ICL Group during the 4th quarter worth approximately $59,000. 13.38% of the stock is currently owned by institutional investors.

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.