ICL Group Ltd (NYSE:ICL) Short Interest Down 16.0% in May

ICL Group Ltd (NYSE:ICLGet Rating) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 461,700 shares, a decline of 16.0% from the April 30th total of 549,700 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 1,320,000 shares, the days-to-cover ratio is presently 0.3 days.

A number of hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd raised its stake in ICL Group by 2.1% in the third quarter. Altshuler Shaham Ltd now owns 41,461,861 shares of the basic materials company’s stock valued at $305,897,000 after purchasing an additional 847,953 shares in the last quarter. Vanguard Group Inc. raised its stake in ICL Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 21,012,079 shares of the basic materials company’s stock valued at $253,616,000 after purchasing an additional 170,647 shares in the last quarter. Meitav Dash Investments Ltd. raised its stake in ICL Group by 5.4% in the fourth quarter. Meitav Dash Investments Ltd. now owns 18,018,771 shares of the basic materials company’s stock valued at $173,873,000 after purchasing an additional 923,308 shares in the last quarter. Acadian Asset Management LLC raised its stake in ICL Group by 1,731.1% in the fourth quarter. Acadian Asset Management LLC now owns 7,102,426 shares of the basic materials company’s stock valued at $68,459,000 after purchasing an additional 6,714,547 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in ICL Group by 7.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,877,742 shares of the basic materials company’s stock valued at $70,416,000 after purchasing an additional 426,776 shares in the last quarter.

A number of equities analysts have commented on ICL shares. Morgan Stanley lifted their price objective on shares of ICL Group from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 17th. Barclays initiated coverage on shares of ICL Group in a research report on Wednesday. They set an “equal weight” rating and a $12.00 price objective for the company. Zacks Investment Research raised shares of ICL Group from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Tuesday. Finally, StockNews.com initiated coverage on shares of ICL Group in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $12.00.

Shares of ICL Group stock traded down $0.36 during trading on Wednesday, reaching $10.62. The company’s stock had a trading volume of 21,417 shares, compared to its average volume of 1,301,820. The business’s 50-day moving average price is $11.64 and its 200-day moving average price is $10.58. ICL Group has a 52 week low of $6.43 and a 52 week high of $12.96. The company has a current ratio of 1.66, a quick ratio of 1.04 and a debt-to-equity ratio of 0.45.

The business also recently declared a dividend, which will be paid on Wednesday, June 1st. Investors of record on Wednesday, June 1st will be paid a $23.832 dividend. This represents a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, May 31st. This is an increase from ICL Group’s previous dividend of $0.05. ICL Group’s payout ratio is 40.82%.

ICL Group Company Profile (Get Rating)

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 Innovative Ag Solutions (IAS). 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.

Further Reading

Want More Great Investing Ideas?

Receive News & Ratings for ICL Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ICL Group and related companies with MarketBeat.com's FREE daily email newsletter.