Wells Fargo & Company MN Decreases Stock Position in ICL Group Ltd (NYSE:ICL)

Wells Fargo & Company MN reduced its holdings in shares of ICL Group Ltd (NYSE:ICL) by 29.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,682 shares of the basic materials company’s stock after selling 45,558 shares during the quarter. Wells Fargo & Company MN’s holdings in ICL Group were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ICL. Lindbrook Capital LLC raised its position in shares of ICL Group by 56.8% in the fourth quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company’s stock valued at $26,000 after buying an additional 1,910 shares during the last quarter. Claro Advisors LLC grew its stake in ICL Group by 18.4% in the 4th quarter. Claro Advisors LLC now owns 18,458 shares of the basic materials company’s stock worth $91,000 after acquiring an additional 2,872 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ICL Group by 2.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 236,244 shares of the basic materials company’s stock worth $1,167,000 after purchasing an additional 5,787 shares during the period. Optas LLC boosted its holdings in shares of ICL Group by 26.0% during the fourth quarter. Optas LLC now owns 29,210 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 6,022 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of ICL Group by 223.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 10,715 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 7,405 shares during the period. 13.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ICL shares. StockNews.com downgraded ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Barclays raised their target price on shares of ICL Group from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Finally, BMO Capital Markets upped their price target on shares of ICL Group from $6.00 to $6.50 and gave the stock a “market perform” rating in a research report on Thursday, February 27th.

ICL Group Stock Performance

NYSE ICL opened at $6.78 on Friday. The business’s 50-day simple moving average is $6.11 and its 200-day simple moving average is $5.44. The firm has a market capitalization of $8.91 billion, a P/E ratio of 21.87, a P/E/G ratio of 7.10 and a beta of 1.15. ICL Group Ltd has a 1-year low of $3.79 and a 1-year high of $6.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 0.91.

ICL Group (NYSE:ICL) last announced its quarterly earnings results on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.65 billion. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. Equities analysts predict that ICL Group Ltd will post 0.37 EPS for the current year.

ICL Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.0403 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Wednesday, March 12th. This is a boost from ICL Group’s previous quarterly dividend of $0.01. ICL Group’s payout ratio is currently 50.00%.

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.