ICL Group (NYSE:ICL) Shares Gap Up – Still a Buy?

Shares of ICL Group Ltd (NYSE:ICL) gapped up before the market opened on Monday . The stock had previously closed at $5.35, but opened at $5.48. ICL Group shares last traded at $5.46, with a volume of 137,736 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ICL shares. StockNews.com downgraded ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. BMO Capital Markets increased their target price on shares of ICL Group from $6.00 to $6.50 and gave the stock a “market perform” rating in a report on Thursday, February 27th. Finally, Barclays lifted their price target on shares of ICL Group from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th.

ICL Group Price Performance

The firm has a 50-day moving average of $5.96 and a 200-day moving average of $5.11. The stock has a market cap of $7.21 billion, a PE ratio of 17.69, a PEG ratio of 7.10 and a beta of 1.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 0.91.

ICL Group (NYSE:ICL) last released its quarterly earnings data on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $1.60 billion for 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%. Research analysts predict that ICL Group Ltd will post 0.37 EPS for the current year.

ICL Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.0403 per share. This is a positive change from ICL Group’s previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, March 12th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.94%. ICL Group’s dividend payout ratio (DPR) is presently 50.00%.

Hedge Funds Weigh In On ICL Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICL. Lindbrook Capital LLC increased its position in ICL Group by 56.8% in the fourth quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 1,910 shares during the last quarter. GeoWealth Management LLC raised its position in ICL Group by 754.0% during the fourth 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. Quantbot Technologies LP lifted its stake in shares of ICL Group by 35.6% in the 3rd quarter. Quantbot Technologies LP now owns 11,380 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 2,985 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of ICL Group by 223.7% in the 4th 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 during the period. Finally, Savant Capital LLC bought a new position in shares of ICL Group during the 4th quarter valued at approximately $54,000. 13.38% of the stock is 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.