ICL Group (NYSE:ICL) Shares Gap Down to $6.56

ICL Group Ltd (NYSE:ICL – Get Rating)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $6.56, but opened at $6.40. ICL Group shares last traded at $6.38, with a volume of 114,178 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ICL shares. Bank of America cut shares of ICL Group from a “buy” rating to a “neutral” rating in a research report on Thursday, May 18th. StockNews.com assumed coverage on ICL Group in a report on Thursday, May 18th. They issued a “buy” rating for the company. Barclays lowered their price target on ICL Group from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Friday, April 14th. Finally, Morgan Stanley cut their target price on shares of ICL Group from $8.50 to $7.50 and set an “equal weight” rating on the stock in a report on Wednesday, April 12th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.33.

ICL Group Stock Down 3.8 %

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.73. The firm’s fifty day simple moving average is $6.42 and its 200 day simple moving average is $7.29. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 4.34, a P/E/G ratio of 1.47 and a beta of 1.12.

ICL Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Wednesday, May 31st will be given a $0.1132 dividend. This is a boost from ICL Group’s previous quarterly dividend of $0.10. This represents a $0.45 annualized dividend and a yield of 7.45%. The ex-dividend date of this dividend is Tuesday, May 30th. ICL Group’s payout ratio is currently 29.29%.

Institutional Trading of ICL Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale grew its holdings in shares of ICL Group by 2.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 54,105 shares of the basic materials company’s stock worth $444,000 after buying an additional 1,237 shares in the last quarter. Aviva PLC boosted its position in ICL Group by 13.2% during the 4th quarter. Aviva PLC now owns 10,970 shares of the basic materials company’s stock worth $8,291,000 after acquiring an additional 1,280 shares during the last quarter. First Trust Advisors LP grew its stake in shares of ICL Group by 0.7% during the 3rd quarter. First Trust Advisors LP now owns 237,501 shares of the basic materials company’s stock worth $1,904,000 after acquiring an additional 1,550 shares in the last quarter. Pathstone Family Office LLC raised its holdings in shares of ICL Group by 15.3% in the fourth quarter. Pathstone Family Office LLC now owns 12,129 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 1,609 shares during the last quarter. Finally, Janiczek Wealth Management LLC lifted its position in shares of ICL Group by 7.2% in the first quarter. Janiczek Wealth Management LLC now owns 25,116 shares of the basic materials company’s stock worth $158,000 after purchasing an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 14.13% of the company’s stock.

ICL Group Company Profile

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ICL Group Ltd. engages in the manufacture of mineral-based products for the agriculture, food, and engineered materials markets. Its products include potash and phosphate fertilizers, specialty fertilizers, functional ingredients, flame retardants and magnesia products. The company was founded in 1968 and is headquartered in Tel Aviv, Israel.