ICL Group Ltd (NYSE:ICL) Short Interest Down 6.3% in August

ICL Group Ltd (NYSE:ICL) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,190,000 shares, a decrease of 6.3% from the August 15th total of 1,270,000 shares. Based on an average daily trading volume, of 735,000 shares, the short-interest ratio is currently 1.6 days. Currently, 0.2% of the company’s stock are short sold.

Institutional Trading of ICL Group

Large investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV increased its holdings in shares of ICL Group by 103.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 7,093 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 3,612 shares in the last quarter. Kathmere Capital Management LLC purchased a new position in shares of ICL Group in the 1st quarter valued at about $54,000. Marshall Wace LLP purchased a new position in shares of ICL Group in the 2nd quarter valued at about $56,000. Callan Capital LLC acquired a new stake in ICL Group in the 1st quarter valued at about $60,000. Finally, Greenleaf Trust acquired a new stake in ICL Group in the 1st quarter valued at about $63,000. Institutional investors and hedge funds own 13.38% of the company’s stock.

Analysts Set New Price Targets

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

ICL Group Stock Down 1.0 %

NYSE ICL traded down $0.04 on Wednesday, hitting $3.87. 112,178 shares of the stock were exchanged, compared to its average volume of 750,528. The company has a 50-day moving average price of $4.28 and a 200-day moving average price of $4.61. ICL Group has a fifty-two week low of $3.80 and a fifty-two week high of $5.87. The company has a quick ratio of 0.94, a current ratio of 1.62 and a debt-to-equity ratio of 0.31. The company has a market cap of $5.08 billion, a PE ratio of 10.55, a PEG ratio of 5.36 and a beta of 1.23.

ICL Group (NYSE:ICL) last issued its earnings results on Wednesday, August 14th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the business posted $0.13 EPS. Sell-side analysts anticipate that ICL Group will post 0.36 EPS for the current fiscal year.

ICL Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.037 per share. This represents a $0.15 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Wednesday, September 4th. ICL Group’s dividend payout ratio is currently 37.84%.

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.