ICL Group (NYSE:ICL) Sees Strong Trading Volume

Shares of ICL Group Ltd (NYSE:ICL) saw unusually-high trading volume on Tuesday . Approximately 487,965 shares changed hands during trading, a decline of 35% from the previous session’s volume of 748,072 shares.The stock last traded at $3.90 and had previously closed at $3.92.

Wall Street Analyst Weigh In

Separately, Barclays reduced their price objective on shares of ICL Group from $4.50 to $4.00 and set an “underweight” rating for the company in a research note on Friday, August 16th.

ICL Group Price Performance

The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 5.36 and a beta of 1.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.94 and a current ratio of 1.62. The company has a 50-day simple moving average of $4.29 and a two-hundred day simple moving average of $4.62.

ICL Group (NYSE:ICL) last issued its earnings results on Wednesday, August 14th. The basic materials company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. ICL Group had a net margin of 6.08% and a return on equity of 8.41%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company earned $0.13 earnings per share. As a group, equities research analysts forecast that ICL Group Ltd will post 0.36 EPS for the current year.

ICL Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.037 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.80%. ICL Group’s payout ratio is 37.84%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV boosted its position in ICL Group by 103.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 7,093 shares of the basic materials company’s stock valued at $38,000 after buying an additional 3,612 shares in the last quarter. Kathmere Capital Management LLC acquired a new position in ICL Group in the 1st quarter worth about $54,000. Marshall Wace LLP acquired a new stake in shares of ICL Group during the second quarter valued at about $56,000. Callan Capital LLC acquired a new position in shares of ICL Group in the first quarter valued at approximately $60,000. Finally, Greenleaf Trust bought a new position in ICL Group in the 1st quarter valued at approximately $63,000. 13.38% of the stock is currently owned by institutional investors.

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.