Truist Financial Corp Invests $69,000 in ICL Group Ltd. $ICL

Truist Financial Corp acquired a new position in ICL Group Ltd. (NYSE:ICL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,064 shares of the basic materials company’s stock, valued at approximately $69,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of ICL Group in the first quarter worth $163,000. Quantbot Technologies LP acquired a new stake in shares of ICL Group in the first quarter worth $117,000. Sequoia Financial Advisors LLC increased its stake in shares of ICL Group by 8.8% in the first quarter. Sequoia Financial Advisors LLC now owns 52,254 shares of the basic materials company’s stock worth $294,000 after acquiring an additional 4,241 shares during the period. Cerity Partners LLC increased its stake in shares of ICL Group by 135.4% in the first 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, M&T Bank Corp grew its position in ICL Group by 13.0% during the first quarter. M&T Bank Corp now owns 14,925 shares of the basic materials company’s stock valued at $85,000 after buying an additional 1,716 shares during the period. Institutional investors and hedge funds own 13.38% of the company’s stock.

ICL Group Stock Up 1.0%

ICL opened at $6.29 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.75 and a debt-to-equity ratio of 0.41. ICL Group Ltd. has a 52-week low of $4.03 and a 52-week high of $7.35. The firm’s fifty day simple moving average is $6.26 and its two-hundred day simple moving average is $6.49.

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

ICL Group Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.0426 per share. This represents a yield of 290.0%. The ex-dividend date of this dividend was Wednesday, September 3rd. ICL Group’s dividend payout ratio (DPR) is presently 58.62%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of ICL Group in a research report on Wednesday, October 8th. Morgan Stanley raised their price target on shares of ICL Group from $5.80 to $6.20 and gave the company an “equal weight” rating in a research report on Wednesday, July 2nd. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.