Bank of America Corp DE Cuts Stake in ICL Group Ltd (NYSE:ICL)

Bank of America Corp DE reduced its position in ICL Group Ltd (NYSE:ICL - Free Report) by 44.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,054,573 shares of the basic materials company's stock after selling 832,419 shares during the quarter. Bank of America Corp DE owned about 0.08% of ICL Group worth $5,210,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of ICL Group by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 26,898,125 shares of the basic materials company's stock worth $132,850,000 after purchasing an additional 626,553 shares during the period. Meitav Investment House Ltd. grew its stake in shares of ICL Group by 21.3% during the 4th quarter. Meitav Investment House Ltd. now owns 20,551,025 shares of the basic materials company's stock worth $101,391,000 after purchasing an additional 3,606,357 shares during the period. Y.D. More Investments Ltd grew its stake in shares of ICL Group by 15.1% during the 4th quarter. Y.D. More Investments Ltd now owns 16,479,059 shares of the basic materials company's stock worth $81,334,000 after purchasing an additional 2,161,715 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of ICL Group by 2.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,362,914 shares of the basic materials company's stock worth $41,336,000 after purchasing an additional 219,101 shares during the period. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD grew its stake in shares of ICL Group by 106.0% during the 4th quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 4,579,516 shares of the basic materials company's stock worth $22,584,000 after purchasing an additional 2,356,324 shares during the period. 13.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ICL has been the topic of a number of recent analyst reports. BMO Capital Markets upped their price target on shares of ICL Group from $6.00 to $6.50 and gave the stock a "market perform" rating in a research note on Thursday, February 27th. Barclays increased their price objective on shares of ICL Group from $6.00 to $7.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 5th. Finally, Wall Street Zen cut shares of ICL Group from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th.

ICL Group Price Performance

NYSE ICL traded up $0.01 during trading hours on Thursday, reaching $6.65. The company's stock had a trading volume of 788,833 shares, compared to its average volume of 811,824. The stock has a market cap of $8.73 billion, a PE ratio of 21.44, a PEG ratio of 7.10 and a beta of 1.15. ICL Group Ltd has a fifty-two week low of $3.79 and a fifty-two week high of $6.95. The company's 50-day moving average is $6.33 and its two-hundred day moving average is $5.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 1.56.

ICL Group (NYSE:ICL - Get Free Report) last released its earnings results on Monday, May 19th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.82 billion. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. Analysts forecast that ICL Group Ltd will post 0.37 EPS for the current year.

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.