ICL Group (NYSE:ICL) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

ICL Group (NYSE:ICL) announced its earnings results on Wednesday. The basic materials company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01, Zacks reports. ICL Group had a net margin of 5.28% and a return on equity of 7.51%.

ICL Group Price Performance

ICL traded down $0.21 during trading on Wednesday, reaching $5.46. 379,651 shares of the company traded hands, compared to its average volume of 772,900. The firm has a fifty day simple moving average of $6.26 and a 200 day simple moving average of $6.50. ICL Group has a 12-month low of $4.26 and a 12-month high of $7.35. The company has a market cap of $7.17 billion, a P/E ratio of 18.81 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 Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid a $0.0426 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a dividend yield of 290.0%. ICL Group’s dividend payout ratio is 58.62%.

Hedge Funds Weigh In On ICL Group

Large investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans purchased a new position in shares of ICL Group during the second quarter valued at approximately $72,000. AQR Capital Management LLC purchased a new position in ICL Group during the 1st quarter valued at about $107,000. United Services Automobile Association lifted its holdings in ICL Group by 20.4% during the first quarter. United Services Automobile Association now owns 26,218 shares of the basic materials company’s stock worth $153,000 after buying an additional 4,438 shares during the period. M&T Bank Corp grew its stake in ICL Group by 53.4% in the second quarter. M&T Bank Corp now owns 22,902 shares of the basic materials company’s stock valued at $158,000 after purchasing an additional 7,977 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of ICL Group by 19.4% during the 1st quarter. Rhumbline Advisers now owns 32,793 shares of the basic materials company’s stock valued at $187,000 after purchasing an additional 5,318 shares during the last quarter. Institutional investors own 13.38% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ICL Group in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.57.

ICL Group Company 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.