Point72 Asset Management L.P. Makes New $1.32 Million Investment in ICL Group Ltd (NYSE:ICL)

Point72 Asset Management L.P. acquired a new stake in ICL Group Ltd (NYSE:ICL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 309,743 shares of the basic materials company’s stock, valued at approximately $1,316,000.

A number of other hedge funds also recently modified their holdings of ICL. Y.D. More Investments Ltd boosted its stake in ICL Group by 2,927,153.2% in the 2nd quarter. Y.D. More Investments Ltd now owns 14,636,266 shares of the basic materials company’s stock valued at $62,766,000 after purchasing an additional 14,635,766 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of ICL Group in the third quarter valued at about $11,967,000. Crossmark Global Holdings Inc. acquired a new position in shares of ICL Group in the third quarter valued at about $6,689,000. Altshuler Shaham Ltd increased its position in ICL Group by 3.2% during the second quarter. Altshuler Shaham Ltd now owns 44,119,257 shares of the basic materials company’s stock worth $189,200,000 after acquiring an additional 1,360,670 shares during the period. Finally, Meitav Investment House Ltd. raised its stake in ICL Group by 2.8% in the 2nd quarter. Meitav Investment House Ltd. now owns 17,215,645 shares of the basic materials company’s stock worth $73,813,000 after purchasing an additional 465,031 shares in the last quarter. Institutional investors and hedge funds own 13.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ICL shares. Barclays lowered their target price on shares of ICL Group from $4.50 to $4.00 and set an “underweight” rating on the stock in a report on Friday, August 16th. StockNews.com upgraded ICL Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th.

ICL Group Trading Down 1.4 %

Shares of ICL Group stock opened at $5.02 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. ICL Group Ltd has a 12-month low of $3.79 and a 12-month high of $5.54. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 6.81 and a beta of 1.25. The firm’s 50-day moving average price is $4.35 and its two-hundred day moving average price is $4.33.

ICL Group (NYSE:ICL) last posted its quarterly earnings results on Monday, November 11th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. During the same quarter last year, the business posted $0.11 EPS. On average, analysts forecast that ICL Group Ltd will post 0.35 earnings per share for the current fiscal year.

ICL Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.0133 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.06%. ICL Group’s dividend payout ratio (DPR) is currently 48.39%.

ICL Group Profile

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.