Nuveen LLC Makes New Investment in ICL Group Ltd. $ICL

Nuveen LLC purchased a new position in shares of ICL Group Ltd. (NYSE:ICL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,681,302 shares of the basic materials company’s stock, valued at approximately $9,424,000. Nuveen LLC owned about 0.13% of ICL Group at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of ICL Group during the 1st quarter worth about $163,000. Sequoia Financial Advisors LLC boosted its stake in shares of ICL Group by 8.8% during the 1st 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 during the last quarter. Northern Trust Corp lifted its holdings in shares of ICL Group by 758.4% during the 4th quarter. Northern Trust Corp now owns 213,816 shares of the basic materials company’s stock worth $1,056,000 after acquiring an additional 188,906 shares during the period. Cerity Partners LLC lifted its holdings in shares of ICL Group by 135.4% during the 1st quarter. Cerity Partners LLC now owns 196,246 shares of the basic materials company’s stock worth $1,109,000 after acquiring an additional 112,865 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in shares of ICL Group by 20.2% during the 4th 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. 13.38% of the stock is owned by institutional investors and hedge funds.

ICL Group Trading Up 0.9%

NYSE ICL opened at $6.3050 on Friday. ICL Group Ltd. has a one year low of $3.79 and a one year high of $7.35. The company’s 50 day moving average price is $6.63 and its 200 day moving average price is $6.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.75.

ICL Group (NYSE:ICL) last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. ICL Group had a net margin of 5.28% and a return on equity of 7.51%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.82 billion. As a group, equities research analysts forecast that ICL Group Ltd. will post 0.37 earnings per share for the current fiscal year.

ICL Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a $0.0426 dividend. The ex-dividend date was Wednesday, June 4th. This is a positive change from ICL Group’s previous quarterly dividend of $0.04. This represents a $0.17 annualized dividend and a yield of 2.7%. ICL Group’s payout ratio is 44.83%.

Analysts Set New Price Targets

Separately, Morgan Stanley increased their price objective on shares of ICL Group from $5.80 to $6.20 and gave the stock an “equal weight” rating in a report on Wednesday, July 2nd. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, ICL Group currently has an average rating of “Hold” and an average target price of $6.57.

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.