Bank of New York Mellon Corp Grows Holdings in ICL Group Ltd (NYSE:ICL)

Bank of New York Mellon Corp increased its position in ICL Group Ltd (NYSE:ICL) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,777,540 shares of the basic materials company’s stock after acquiring an additional 139,406 shares during the quarter. Bank of New York Mellon Corp owned about 0.22% of ICL Group worth $15,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its holdings in ICL Group by 3.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 51,866 shares of the basic materials company’s stock worth $284,000 after acquiring an additional 1,538 shares in the last quarter. First Trust Advisors LP increased its holdings in ICL Group by 0.7% in the 3rd quarter. First Trust Advisors LP now owns 237,501 shares of the basic materials company’s stock worth $1,904,000 after acquiring an additional 1,550 shares in the last quarter. Pathstone Family Office LLC increased its holdings in ICL Group by 15.3% in the 4th quarter. Pathstone Family Office LLC now owns 12,129 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 1,609 shares in the last quarter. Wetherby Asset Management Inc. increased its holdings in ICL Group by 10.3% in the 1st quarter. Wetherby Asset Management Inc. now owns 22,687 shares of the basic materials company’s stock worth $274,000 after acquiring an additional 2,111 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its holdings in ICL Group by 13.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 18,419 shares of the basic materials company’s stock worth $125,000 after acquiring an additional 2,244 shares in the last quarter. 14.54% of the stock is owned by hedge funds and other institutional investors.

ICL Group Trading Up 8.1 %

ICL stock opened at $5.08 on Wednesday. ICL Group Ltd has a 1-year low of $4.65 and a 1-year high of $8.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.72 and a quick ratio of 0.97. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 1.79 and a beta of 1.14. The business has a 50 day simple moving average of $5.33 and a two-hundred day simple moving average of $5.79.

ICL Group (NYSE:ICL) last posted its earnings results on Wednesday, November 8th. The basic materials company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.77 billion. ICL Group had a return on equity of 16.22% and a net margin of 11.55%. During the same period in the prior year, the company earned $0.49 EPS. Research analysts anticipate that ICL Group Ltd will post 0.52 EPS for the current fiscal year.

ICL Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Tuesday, December 5th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, December 4th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.15%. ICL Group’s dividend payout ratio is currently 26.76%.

Analyst Ratings Changes

Several research analysts have weighed in on ICL shares. Morgan Stanley restated an “equal weight” rating and issued a $7.00 price target on shares of ICL Group in a research note on Wednesday, July 19th. StockNews.com started coverage on ICL Group in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Barclays upgraded ICL Group from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $7.00 to $6.50 in a research note on Tuesday.

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.