ICL Group Ltd (NYSE:ICL) Sees Large Drop in Short Interest

ICL Group Ltd (NYSE:ICL) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 1,590,000 shares, a decrease of 22.8% from the December 15th total of 2,060,000 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 797,600 shares, the days-to-cover ratio is currently 2.0 days.

Hedge Funds Weigh In On ICL Group

Several large investors have recently made changes to their positions in ICL. Kathmere Capital Management LLC purchased a new position in ICL Group during the fourth quarter valued at $141,000. Ignite Planners LLC increased its stake in ICL Group by 5.1% during the 4th quarter. Ignite Planners LLC now owns 157,515 shares of the basic materials company’s stock valued at $797,000 after purchasing an additional 7,598 shares in the last quarter. Claro Advisors LLC raised its holdings in ICL Group by 18.4% in the fourth quarter. Claro Advisors LLC now owns 18,458 shares of the basic materials company’s stock worth $91,000 after buying an additional 2,872 shares during the last quarter. Moody National Bank Trust Division bought a new position in shares of ICL Group in the fourth quarter worth approximately $68,000. Finally, Virtu Financial LLC purchased a new stake in shares of ICL Group during the third quarter valued at approximately $296,000. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

ICL Group Trading Up 1.2 %

NYSE ICL opened at $5.74 on Thursday. The firm has a market capitalization of $7.54 billion, a PE ratio of 18.52, a P/E/G ratio of 5.92 and a beta of 1.22. The stock’s 50 day moving average is $4.84 and its 200 day moving average is $4.43. ICL Group has a twelve month low of $3.79 and a twelve month high of $5.79. 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 (NYSE:ICL) last announced its earnings results on Monday, November 11th. The basic materials company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $0.11 EPS. Research analysts forecast that ICL Group will post 0.37 earnings per share for the current fiscal year.

ICL Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.0133 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Wednesday, December 4th. ICL Group’s dividend payout ratio is 48.39%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of ICL Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th.

ICL Group Company 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.