Cambridge Investment Research Advisors Inc. Purchases Shares of 28,978 ICL Group Ltd. (NYSE:ICL)

Cambridge Investment Research Advisors Inc. purchased a new position in shares of ICL Group Ltd. (NYSE:ICL) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,978 shares of the basic materials company’s stock, valued at approximately $163,000.

A number of other hedge funds also recently modified their holdings of the business. GeoWealth Management LLC raised its holdings in ICL Group by 754.0% during the 4th quarter. GeoWealth Management LLC now owns 7,447 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 6,575 shares during the last quarter. Seven Mile Advisory acquired a new stake in shares of ICL Group during the fourth quarter worth $59,000. Foster Group Inc. bought a new position in ICL Group during the first quarter worth $59,000. Simon Quick Advisors LLC acquired a new position in ICL Group in the first quarter valued at $64,000. Finally, National Bank of Canada FI bought a new stake in ICL Group during the fourth quarter valued at $87,000. Institutional investors and hedge funds own 13.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised their price objective on shares of ICL Group from $5.80 to $6.20 and gave the stock an “equal weight” rating in a research report on Wednesday, July 2nd.

ICL Group Stock Down 2.3%

Shares of ICL Group stock opened at $6.91 on Tuesday. ICL Group Ltd. has a 1 year low of $3.79 and a 1 year high of $7.35. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $6.77 and a 200-day moving average price of $6.22.

ICL Group (NYSE:ICL) last issued its quarterly earnings results on Monday, May 19th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. ICL Group had a net margin of 5.66% and a return on equity of 7.86%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.82 billion. On average, analysts anticipate that ICL Group Ltd. will post 0.37 earnings per share for the current year.

ICL Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.0426 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $0.17 annualized dividend and a dividend yield of 2.47%. This is a positive change from ICL Group’s previous quarterly dividend of $0.04. ICL Group’s payout ratio is 51.61%.

About ICL Group

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.