M&T Bank Corp Purchases 1,716 Shares of ICL Group Ltd. (NYSE:ICL)

M&T Bank Corp boosted its position in ICL Group Ltd. (NYSE:ICL) by 13.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,925 shares of the basic materials company’s stock after acquiring an additional 1,716 shares during the period. M&T Bank Corp’s holdings in ICL Group were worth $85,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of ICL Group by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 26,898,125 shares of the basic materials company’s stock valued at $132,850,000 after acquiring an additional 626,553 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in ICL Group by 2.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,362,914 shares of the basic materials company’s stock worth $41,336,000 after acquiring an additional 219,101 shares during the period. JPMorgan Chase & Co. lifted its holdings in ICL Group by 24.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,900,381 shares of the basic materials company’s stock worth $9,388,000 after acquiring an additional 373,407 shares during the period. Bank of New York Mellon Corp lifted its holdings in ICL Group by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 1,626,865 shares of the basic materials company’s stock worth $9,257,000 after acquiring an additional 89,399 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in ICL Group by 20.2% during the fourth quarter. Nuveen Asset Management LLC now owns 1,412,613 shares of the basic materials company’s stock worth $6,978,000 after acquiring an additional 237,704 shares during the period. Institutional investors own 13.38% of the company’s stock.

ICL Group Price Performance

Shares of NYSE ICL opened at $6.87 on Friday. ICL Group Ltd. has a fifty-two week low of $3.79 and a fifty-two week high of $7.35. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average of $6.77 and a 200-day moving average of $6.27.

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

ICL Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.0426 per share. This is a positive change from ICL Group’s previous quarterly dividend of $0.04. The ex-dividend date was Wednesday, June 4th. This represents a $0.17 annualized dividend and a yield of 2.48%. ICL Group’s dividend payout ratio (DPR) is currently 51.61%.

Analyst Ratings Changes

Separately, Morgan Stanley raised their target price on 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 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.