Bank of America Corp DE Sells 1,670,151 Shares of ICL Group Ltd. $ICL

Bank of America Corp DE lessened its position in shares of ICL Group Ltd. (NYSE:ICL - Free Report) by 59.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,137,058 shares of the basic materials company's stock after selling 1,670,151 shares during the period. Bank of America Corp DE owned 0.09% of ICL Group worth $5,890,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ICL. Farther Finance Advisors LLC lifted its holdings in shares of ICL Group by 351.2% in the fourth quarter. Farther Finance Advisors LLC now owns 5,157 shares of the basic materials company's stock worth $30,000 after buying an additional 4,014 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of ICL Group in the fourth quarter worth $38,000. Boothbay Fund Management LLC bought a new stake in ICL Group during the fourth quarter valued at $59,000. Sei Investments Co. purchased a new position in ICL Group during the first quarter worth about $54,000. Finally, Thrivent Financial for Lutherans purchased a new position in ICL Group during the second quarter worth about $72,000. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

ICL Group Trading Up 0.9%

NYSE ICL opened at $5.69 on Thursday. The stock has a market cap of $7.34 billion, a P/E ratio of 23.71 and a beta of 0.96. The stock has a 50 day simple moving average of $5.21 and a two-hundred day simple moving average of $5.45. ICL Group Ltd. has a fifty-two week low of $4.76 and a fifty-two week high of $6.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.94 and a current ratio of 1.58.

ICL Group (NYSE:ICL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. ICL Group had a net margin of 3.95% and a return on equity of 8.40%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.01 billion. On average, analysts forecast that ICL Group Ltd. will post 0.44 earnings per share for the current year.

ICL Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.0581 per share. This is a boost from ICL Group's previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, September 2nd. This represents a $0.23 dividend on an annualized basis and a dividend yield of 4.1%. ICL Group's dividend payout ratio (DPR) is presently 66.67%.

Analyst Ratings Changes

Several analysts have weighed in on ICL shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ICL Group in a report on Friday, July 31st. Wall Street Zen raised ICL Group from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Barclays decreased their price objective on shares of ICL Group from $7.00 to $6.00 and set an "equal weight" rating on the stock in a research report on Monday, July 27th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $6.00.

ICL Group Company Profile

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange NYSE: ICL. The company's origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL's core operations are organized into three principal business areas.

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