ICL Group Ltd. (NYSE:ICL) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of ICL Group Ltd. (NYSE:ICL) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,626,865 shares of the basic materials company’s stock after purchasing an additional 89,399 shares during the period. Bank of New York Mellon Corp owned 0.12% of ICL Group worth $9,257,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ICL. Voya Investment Management LLC raised its holdings in ICL Group by 2.2% during the fourth quarter. Voya Investment Management LLC now owns 131,878 shares of the basic materials company’s stock worth $651,000 after purchasing an additional 2,876 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in ICL Group by 8.8% during the first quarter. Sequoia Financial Advisors LLC now owns 52,254 shares of the basic materials company’s stock worth $294,000 after purchasing an additional 4,241 shares in the last quarter. Rhumbline Advisers raised its holdings in ICL Group by 19.4% during the first quarter. Rhumbline Advisers now owns 32,793 shares of the basic materials company’s stock worth $187,000 after purchasing an additional 5,318 shares in the last quarter. Tidal Investments LLC raised its holdings in ICL Group by 11.2% during the fourth quarter. Tidal Investments LLC now owns 63,433 shares of the basic materials company’s stock worth $313,000 after purchasing an additional 6,379 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in ICL Group by 15.2% during the fourth quarter. Mackenzie Financial Corp now owns 49,833 shares of the basic materials company’s stock worth $246,000 after purchasing an additional 6,561 shares in the last quarter. 13.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley boosted their target price 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 Trading Down 0.4%

ICL opened at $6.85 on Tuesday. The firm has a 50 day moving average price of $6.77 and a 200 day moving average price of $6.30. ICL Group Ltd. has a 1 year low of $3.79 and a 1 year high of $7.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.47 and a quick ratio of 0.85.

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

ICL Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.0426 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 2.49%. This is a boost from ICL Group’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Wednesday, June 4th. ICL Group’s dividend payout ratio (DPR) is presently 51.61%.

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.