Clal Insurance Enterprises Holdings Ltd Trims Stock Holdings in ICL Group Ltd. $ICL

Clal Insurance Enterprises Holdings Ltd cut its holdings in shares of ICL Group Ltd. (NYSE:ICL) by 8.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,732,078 shares of the basic materials company’s stock after selling 1,342,000 shares during the period. Clal Insurance Enterprises Holdings Ltd owned 1.05% of ICL Group worth $85,938,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ICL. MAI Capital Management boosted its stake in ICL Group by 2,055.0% during the 2nd quarter. MAI Capital Management now owns 4,310 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 4,110 shares during the period. CWM LLC raised its holdings in shares of ICL Group by 23.7% in the second quarter. CWM LLC now owns 8,248 shares of the basic materials company’s stock valued at $57,000 after buying an additional 1,581 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of ICL Group during the second quarter worth about $72,000. Citizens Financial Group Inc. RI purchased a new position in shares of ICL Group during the second quarter worth about $76,000. Finally, Greenleaf Trust acquired a new position in ICL Group in the 3rd quarter valued at about $74,000. 13.38% of the stock is owned by institutional investors and hedge funds.

ICL Group Stock Down 2.5%

Shares of NYSE ICL opened at $4.80 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.71 and a current ratio of 1.33. ICL Group Ltd. has a one year low of $4.76 and a one year high of $7.35. The company’s fifty day moving average is $5.46 and its two-hundred day moving average is $5.79.

ICL Group (NYSE:ICL) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. ICL Group had a net margin of 3.16% and a return on equity of 7.44%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.77 billion. As a group, equities analysts forecast that ICL Group Ltd. will post 0.37 EPS for the current year.

ICL Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be issued a $0.0465 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.19 dividend on an annualized basis and a dividend yield of 3.9%. ICL Group’s dividend payout ratio is currently 82.35%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ICL. Wall Street Zen cut ICL Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ICL Group in a report on Monday, December 29th. Finally, Barclays lowered their price objective on shares of 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. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, ICL Group has an average rating of “Hold” and a consensus price target of $6.10.

About ICL Group

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange (NYSE: ICL). The company’s origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL’s core operations are organized into three principal business areas.