Swiss National Bank Boosts Stake in ICL Group Ltd. $ICL

Swiss National Bank raised its holdings in ICL Group Ltd. (NYSE:ICL) by 14.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,480,755 shares of the basic materials company’s stock after acquiring an additional 308,077 shares during the period. Swiss National Bank’s holdings in ICL Group were worth $16,966,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ICL. CWM LLC grew its stake in ICL Group by 23.7% in the 2nd quarter. CWM LLC now owns 8,248 shares of the basic materials company’s stock worth $57,000 after buying an additional 1,581 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of ICL Group during the 2nd quarter valued at $69,000. Citizens Financial Group Inc. RI bought a new stake in shares of ICL Group during the 2nd quarter worth $76,000. Ascent Group LLC bought a new stake in shares of ICL Group during the 1st quarter worth $73,000. Finally, Simon Quick Advisors LLC grew its position in ICL Group by 26.0% in the second quarter. Simon Quick Advisors LLC now owns 14,348 shares of the basic materials company’s stock worth $99,000 after acquiring an additional 2,958 shares in the last quarter. Institutional investors own 13.38% of the company’s stock.

ICL Group Stock Performance

NYSE:ICL opened at $5.51 on Thursday. 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 fifty-two week low of $4.52 and a fifty-two week high of $7.35. The firm has a market cap of $7.23 billion, a PE ratio of 18.98 and a beta of 1.12. The business has a 50 day moving average price of $6.11 and a 200-day moving average price of $6.40.

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

ICL Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Tuesday, December 2nd will be paid a $0.048 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $0.19 annualized dividend and a dividend yield of 3.5%. ICL Group’s dividend payout ratio (DPR) is presently 48.28%.

Analyst Upgrades and Downgrades

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

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.