ICL Group (NYSE:ICL) Reaches New 12-Month High – Here’s Why

ICL Group Ltd (NYSE:ICL)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $5.68 and last traded at $5.65, with a volume of 101289 shares changing hands. The stock had previously closed at $5.50.

Analyst Ratings Changes

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

ICL Group Price Performance

The company has a market capitalization of $7.38 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 6.97 and a beta of 1.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 0.91. The company has a fifty day moving average price of $4.79 and a 200 day moving average price of $4.41.

ICL Group (NYSE:ICL) last issued its earnings results on Monday, November 11th. The basic materials company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company earned $0.11 earnings per share. On average, sell-side analysts forecast that ICL Group Ltd will post 0.35 EPS 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 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, December 4th. ICL Group’s payout ratio is currently 45.16%.

Hedge Funds Weigh In On ICL Group

A number of institutional investors and hedge funds have recently bought and sold shares of ICL. Assenagon Asset Management S.A. bought a new stake in ICL Group in the third quarter worth about $11,967,000. Crossmark Global Holdings Inc. acquired a new stake in ICL Group during the third quarter valued at approximately $6,689,000. Altshuler Shaham Ltd boosted its holdings 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 buying an additional 1,360,670 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of ICL Group in the 3rd quarter valued at $1,316,000. Finally, Stifel Financial Corp raised its position in ICL Group by 65.0% during the third quarter. Stifel Financial Corp now owns 591,187 shares of the basic materials company’s stock valued at $2,513,000 after buying an additional 232,842 shares during the period. Institutional investors own 13.38% of the company’s stock.

About ICL Group

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.