Intech Investment Management LLC Invests $772,000 in ICL Group Ltd. $ICL

Intech Investment Management LLC bought a new stake in shares of ICL Group Ltd. (NYSE:ICL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 123,154 shares of the basic materials company’s stock, valued at approximately $772,000.

Other large investors have also bought and sold shares of the company. MAI Capital Management boosted its stake in shares of ICL Group by 2,055.0% during the second quarter. MAI Capital Management now owns 4,310 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 4,110 shares during the period. Thrivent Financial for Lutherans purchased a new stake in ICL Group during the 2nd quarter valued at $72,000. Citizens Financial Group Inc. RI bought a new stake in ICL Group in the 2nd quarter worth $76,000. Greenleaf Trust purchased a new position in shares of ICL Group in the third quarter valued at about $74,000. Finally, a16z Perennial Management L.P. bought a new position in shares of ICL Group during the third quarter valued at about $80,000. 13.38% of the stock is owned by hedge funds and other institutional investors.

ICL Group Price Performance

Shares of ICL opened at $5.35 on Tuesday. The company has a 50-day simple moving average of $5.42 and a two-hundred day simple moving average of $5.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.71 and a current ratio of 1.33. ICL Group Ltd. has a one year low of $4.76 and a one year high of $7.35.

ICL Group (NYSE:ICL) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. ICL Group had a return on equity of 7.44% and a net margin of 3.16%.The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.77 billion. Research analysts anticipate that ICL Group Ltd. will post 0.37 earnings per share for the current fiscal year.

ICL Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid a $0.0465 dividend. This represents a $0.19 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, March 10th. ICL Group’s dividend payout ratio is presently 82.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays reduced their price target on ICL Group from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, November 13th. Wall Street Zen raised ICL Group from a “hold” rating to a “buy” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ICL Group in a research note on Monday, December 29th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.10.

ICL Group Profile

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange (NYSE: ICL). The company’s origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL’s core operations are organized into three principal business areas.