ICL Group (NYSE:ICL) Sets New 1-Year Low – Here’s Why

ICL Group Ltd. (NYSE:ICL)’s stock price reached a new 52-week low on Friday . The company traded as low as $4.84 and last traded at $4.92, with a volume of 1921140 shares. The stock had previously closed at $5.10.

Wall Street Analyst Weigh In

A number of research analysts have commented on ICL shares. Weiss Ratings reissued a “hold (c)” rating on shares of ICL Group in a research report on Monday, December 29th. Wall Street Zen downgraded shares of ICL Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, Barclays cut their price objective on shares of ICL Group from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.10.

ICL Group Trading Down 2.5%

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.33 and a quick ratio of 0.71. The business’s 50-day moving average price is $5.46 and its 200-day moving average price is $5.79.

ICL Group (NYSE:ICL) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.77 billion. ICL Group had a net margin of 3.16% and a return on equity of 7.44%. On average, equities research analysts expect that ICL Group Ltd. will post 0.37 earnings per share for the current fiscal year.

ICL Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.0465 per share. This represents a $0.19 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, March 10th. ICL Group’s payout ratio is 82.35%.

Institutional Investors Weigh In On ICL Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of ICL Group by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 29,066,383 shares of the basic materials company’s stock worth $167,132,000 after acquiring an additional 382,780 shares during the last quarter. Altshuler Shaham Ltd boosted its stake in ICL Group by 96.6% in the 4th quarter. Altshuler Shaham Ltd now owns 26,349,667 shares of the basic materials company’s stock worth $151,160,000 after purchasing an additional 12,946,737 shares in the last quarter. Norges Bank purchased a new stake in ICL Group during the 4th quarter worth approximately $122,297,000. Clal Insurance Enterprises Holdings Ltd grew its position in ICL Group by 42.3% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 19,537,777 shares of the basic materials company’s stock worth $112,054,000 after purchasing an additional 5,805,699 shares during the last quarter. Finally, Y.D. More Investments Ltd increased its stake in ICL Group by 5.5% during the 4th quarter. Y.D. More Investments Ltd now owns 18,738,939 shares of the basic materials company’s stock valued at $107,498,000 after purchasing an additional 979,321 shares in the last quarter. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

ICL Group Company 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.