ICL Group (NYSE:ICL) Rating Increased to Equal Weight at Barclays

Barclays upgraded shares of ICL Group (NYSE:ICL) from an underweight rating to an equal weight rating in a research note published on Tuesday, MarketBeat Ratings reports. Barclays currently has $6.00 price target on the basic materials company’s stock, up from their previous price target of $4.00.

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

ICL Group Stock Down 0.4 %

Shares of NYSE ICL opened at $6.04 on Tuesday. The stock has a market cap of $7.93 billion, a PE ratio of 19.47, a P/E/G ratio of 6.78 and a beta of 1.22. 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 12-month low of $3.79 and a 12-month high of $6.18. The company has a 50-day moving average of $5.01 and a 200 day moving average of $4.49.

ICL Group (NYSE:ICL) last posted its quarterly earnings results on Monday, November 11th. The basic materials company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $1.75 billion during 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 prior year, the company posted $0.11 EPS. As a group, sell-side analysts predict that ICL Group will post 0.37 EPS for the current fiscal year.

ICL Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a $0.0133 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.05 annualized dividend and a yield of 0.88%. ICL Group’s dividend payout ratio (DPR) is 48.39%.

Hedge Funds Weigh In On ICL Group

Large investors have recently bought and sold shares of the business. Quantbot Technologies LP lifted its position in shares of ICL Group by 35.6% during the 3rd quarter. Quantbot Technologies LP now owns 11,380 shares of the basic materials company’s stock worth $48,000 after buying an additional 2,985 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased 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 worth $53,000 after purchasing an additional 7,405 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of ICL Group in the 2nd quarter valued at about $56,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of ICL Group in the 3rd quarter valued at about $56,000. Finally, Townsquare Capital LLC acquired a new stake in shares of ICL Group in the 3rd quarter valued at about $56,000. Hedge funds and other 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.