Norges Bank Makes New $36.04 Million Investment in ICL Group Ltd (NYSE:ICL)

Norges Bank purchased a new stake in ICL Group Ltd (NYSE:ICLFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,088,081 shares of the basic materials company’s stock, valued at approximately $36,042,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SVB Wealth LLC acquired a new stake in ICL Group in the fourth quarter valued at about $51,000. Blue Trust Inc. boosted its stake in shares of ICL Group by 45.6% in the 4th quarter. Blue Trust Inc. now owns 11,156 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 3,495 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of ICL Group during the 3rd quarter valued at approximately $63,000. Capricorn Fund Managers Ltd acquired a new position in ICL Group during the 4th quarter worth approximately $68,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in ICL Group during the 4th quarter worth approximately $78,000. Institutional investors own 13.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their target price on shares of ICL Group from $4.00 to $4.50 and gave the company an “underweight” rating in a research report on Friday, March 1st.

Check Out Our Latest Analysis on ICL Group

ICL Group Price Performance

ICL Group stock opened at $4.71 on Friday. The stock has a 50-day moving average price of $4.87 and a two-hundred day moving average price of $4.92. ICL Group Ltd has a 12 month low of $4.30 and a 12 month high of $6.73. The company has a market capitalization of $6.19 billion, a PE ratio of 12.73, a P/E/G ratio of 6.97 and a beta of 1.25. The company has a current ratio of 1.60, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31.

ICL Group (NYSE:ICLGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. ICL Group had a net margin of 6.68% and a return on equity of 9.05%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business earned $0.23 EPS. Analysts expect that ICL Group Ltd will post 0.33 EPS for the current year.

ICL Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.0457 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 3.88%. ICL Group’s dividend payout ratio (DPR) is presently 51.35%.

ICL Group Profile

(Free Report)

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 Growing Solutions. 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.

See Also

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Institutional Ownership by Quarter for ICL Group (NYSE:ICL)

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