ICL Group Ltd (NYSE:ICL) Short Interest Down 32.0% in March

by · The Markets Daily

ICL Group Ltd (NYSE:ICL – Get Free Report) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 2,020,000 shares, a drop of 32.0% from the March 15th total of 2,970,000 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 944,700 shares, the short-interest ratio is presently 2.1 days.

ICL Group Trading Up 0.9 %

Shares of NYSE:ICL traded up $0.06 during trading on Friday, reaching $6.37. 447,976 shares of the company traded hands, compared to its average volume of 791,443. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.30. ICL Group has a 52-week low of $3.79 and a 52-week high of $6.57. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 7.10 and a beta of 1.18. The business’s fifty day moving average is $6.00 and its 200-day moving average is $5.26.

ICL Group (NYSE:ICL – Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. As a group, analysts forecast that ICL Group will post 0.37 EPS for the current year.

ICL Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Wednesday, March 12th were issued a $0.0403 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.16 annualized dividend and a yield of 2.53%. This is a boost from ICL Group’s previous quarterly dividend of $0.01. ICL Group’s payout ratio is 50.00%.

Hedge Funds Weigh In On ICL Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC boosted its position in ICL Group by 56.8% during the 4th quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 1,910 shares in the last quarter. GeoWealth Management LLC lifted its stake in shares of ICL Group by 754.0% in the 4th quarter. GeoWealth Management LLC now owns 7,447 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 6,575 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of ICL Group by 223.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 10,715 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 7,405 shares in the last quarter. Savant Capital LLC purchased a new stake in ICL Group in the fourth quarter worth $54,000. Finally, Wealthstream Advisors Inc. bought a new position in ICL Group in the fourth quarter worth $57,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

Wall Street Analyst Weigh In

ICL has been the topic of a number of recent research reports. BMO Capital Markets increased their price target on shares of ICL Group from $6.00 to $6.50 and gave the company a “market perform” rating in a research report on Thursday, February 27th. StockNews.com cut shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Finally, Barclays upped their price target on shares of ICL Group from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th.

Read Our Latest Stock Report on ICL

ICL Group Company Profile

(Get 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.

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