Mackenzie Financial Corp lessened its holdings in shares of ICL Group Ltd (NYSE:ICL – Get Rating) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,022 shares of the basic materials company’s stock after selling 6,771 shares during the quarter. Mackenzie Financial Corp’s holdings in ICL Group were worth $1,353,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of ICL. SJS Investment Consulting Inc. acquired a new stake in ICL Group during the 1st quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its stake in ICL Group by 1,482.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,403 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 3,188 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in ICL Group by 1,091.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,002 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 2,750 shares in the last quarter. Lindbrook Capital LLC grew its stake in ICL Group by 26.4% during the 2nd quarter. Lindbrook Capital LLC now owns 5,075 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 1,059 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in ICL Group during the 2nd quarter valued at approximately $54,000.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on ICL. BMO Capital Markets decreased their target price on ICL Group from $10.00 to $9.50 and set a “market perform” rating for the company in a research report on Thursday, November 10th. StockNews.com began coverage on ICL Group in a research report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Finally, Barclays decreased their target price on ICL Group from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, November 17th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.50.
ICL Group Trading Up 2.0 %
ICL Group Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Wednesday, November 30th will be given a dividend of $0.2435 per share. The ex-dividend date is Tuesday, November 29th. This represents a $0.97 dividend on an annualized basis and a yield of 11.78%. ICL Group’s dividend payout ratio is currently 56.44%.
About ICL Group
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.
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