Bank of New York Mellon Corp Acquires 82,436 Shares of ICL Group Ltd. $ICL

Bank of New York Mellon Corp increased its stake in ICL Group Ltd. (NYSE:ICL) by 5.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,709,301 shares of the basic materials company’s stock after buying an additional 82,436 shares during the quarter. Bank of New York Mellon Corp’s holdings in ICL Group were worth $11,760,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Provident Co of the Employees of the Hebrew University LTD raised its position in ICL Group by 35.2% in the second quarter. Provident Co of the Employees of the Hebrew University LTD now owns 512,455 shares of the basic materials company’s stock worth $3,511,000 after acquiring an additional 133,500 shares during the period. Simon Quick Advisors LLC increased its stake in shares of ICL Group by 26.0% during the 2nd quarter. Simon Quick Advisors LLC now owns 14,348 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 2,958 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of ICL Group in the 2nd quarter worth approximately $260,000. Allianz Asset Management GmbH lifted its stake in ICL Group by 157.6% in the second quarter. Allianz Asset Management GmbH now owns 490,628 shares of the basic materials company’s stock valued at $3,364,000 after purchasing an additional 300,176 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its stake in ICL Group by 201.2% in the second quarter. Ritholtz Wealth Management now owns 280,193 shares of the basic materials company’s stock valued at $1,924,000 after purchasing an additional 187,181 shares during the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

ICL Group Stock Performance

NYSE:ICL opened at $5.40 on Wednesday. The business’s fifty day moving average is $6.20 and its 200 day moving average is $6.46. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 18.60 and a beta of 1.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.75. ICL Group Ltd. has a 52-week low of $4.34 and a 52-week high of $7.35.

ICL Group (NYSE:ICL) last posted its earnings results on Wednesday, November 12th. The basic materials company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. ICL Group had a return on equity of 7.51% and a net margin of 5.28%.The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.95 billion. Research analysts predict that ICL Group Ltd. will post 0.37 EPS for the current year.

ICL Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Tuesday, December 2nd will be paid a dividend of $0.048 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $0.19 annualized dividend and a yield of 3.6%. ICL Group’s payout ratio is currently 48.28%.

Analyst Ratings Changes

A number of analysts have issued reports on ICL shares. Barclays decreased their target price on ICL Group from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of ICL Group in a report on Thursday, November 13th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.23.

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.