Short Interest in ICL Group Ltd (NYSE:ICL) Decreases By 16.0%

Posted by on Jun 1st, 2022

ICL Group Ltd (NYSE:ICL – Get Rating) saw a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 461,700 shares, a drop of 16.0% from the April 30th total of 549,700 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 1,320,000 shares, the days-to-cover ratio is currently 0.3 days.

ICL stock traded down $0.36 during mid-day trading on Wednesday, hitting $10.62. 21,417 shares of the company were exchanged, compared to its average volume of 1,301,820. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.04 and a current ratio of 1.66. The firm’s 50 day simple moving average is $11.64 and its 200 day simple moving average is $10.58. ICL Group has a 1-year low of $6.43 and a 1-year high of $12.96.

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

A number of brokerages recently weighed in on ICL. Zacks Investment Research upgraded shares of ICL Group from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday. Morgan Stanley increased their price target on shares of ICL Group from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, March 17th. StockNews.com began coverage on shares of ICL Group in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Finally, Barclays began coverage on shares of ICL Group in a research report on Wednesday. They issued an “equal weight” rating and a $12.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ICL Group currently has a consensus rating of “Buy” and an average price target of $12.00.

A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its holdings in ICL Group by 9.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 725,885 shares of the basic materials company’s stock worth $8,750,000 after buying an additional 60,617 shares during the period. Virtu Financial LLC acquired a new stake in shares of ICL Group in the first quarter valued at approximately $368,000. Advisors Asset Management Inc. acquired a new stake in shares of ICL Group in the first quarter valued at approximately $442,000. Jane Street Group LLC raised its holdings in shares of ICL Group by 2,085.7% in the first quarter. Jane Street Group LLC now owns 922,615 shares of the basic materials company’s stock valued at $11,053,000 after purchasing an additional 880,404 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of ICL Group in the first quarter valued at approximately $66,000.

About ICL Group (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.