Allianz Asset Management GmbH Boosts Stake in ICL Group Ltd. $ICL

Allianz Asset Management GmbH grew its holdings in shares of ICL Group Ltd. (NYSE:ICL) by 32.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 652,238 shares of the basic materials company’s stock after acquiring an additional 161,610 shares during the period. Allianz Asset Management GmbH’s holdings in ICL Group were worth $4,087,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ballentine Partners LLC boosted its holdings in ICL Group by 10.6% in the third quarter. Ballentine Partners LLC now owns 40,613 shares of the basic materials company’s stock valued at $253,000 after purchasing an additional 3,882 shares during the last quarter. Evergreen Capital Management LLC raised its position in shares of ICL Group by 36.7% in the 3rd quarter. Evergreen Capital Management LLC now owns 49,616 shares of the basic materials company’s stock valued at $311,000 after purchasing an additional 13,310 shares in the last quarter. Greenleaf Trust purchased a new position in shares of ICL Group during the 3rd quarter valued at approximately $74,000. CWA Asset Management Group LLC boosted its stake in shares of ICL Group by 1.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 1,606,506 shares of the basic materials company’s stock valued at $10,059,000 after buying an additional 29,490 shares during the last quarter. Finally, Ethic Inc. grew its position in shares of ICL Group by 55.5% during the third quarter. Ethic Inc. now owns 21,534 shares of the basic materials company’s stock worth $134,000 after buying an additional 7,684 shares in the last quarter. 13.38% of the stock is owned by hedge funds and other institutional investors.

ICL Group Trading Up 1.4%

Shares of NYSE:ICL opened at $5.70 on Wednesday. ICL Group Ltd. has a fifty-two week low of $4.85 and a fifty-two week high of $7.35. The firm has a 50-day simple moving average of $5.36 and a 200 day simple moving average of $5.86. The company has a quick ratio of 0.80, a current ratio of 1.43 and a debt-to-equity ratio of 0.30.

ICL Group (NYSE:ICL) last issued its earnings results on Wednesday, November 12th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.95 billion. ICL Group had a net margin of 5.23% and a return on equity of 7.24%. On average, sell-side analysts predict that ICL Group Ltd. will post 0.37 EPS for the current year.

ICL Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Tuesday, December 2nd were given a $0.048 dividend. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $0.19 annualized dividend and a yield of 3.4%. ICL Group’s dividend payout ratio (DPR) is currently 48.28%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wall Street Zen downgraded shares of ICL Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Barclays reduced their price target on shares of ICL Group from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ICL Group in a research note on Monday, December 29th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.23.

About ICL Group

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.