Point72 Asset Management L.P. Sells 162,775 Shares of ICL Group Ltd (NYSE:ICL)

Point72 Asset Management L.P. reduced its holdings in shares of ICL Group Ltd (NYSE:ICL - Free Report) by 52.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,968 shares of the basic materials company's stock after selling 162,775 shares during the quarter. Point72 Asset Management L.P.'s holdings in ICL Group were worth $726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quantinno Capital Management LP lifted its holdings in ICL Group by 258.6% in the fourth quarter. Quantinno Capital Management LP now owns 250,589 shares of the basic materials company's stock valued at $1,238,000 after acquiring an additional 180,713 shares during the period. Nuveen Asset Management LLC boosted its position in ICL Group by 20.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,412,613 shares of the basic materials company's stock worth $6,978,000 after purchasing an additional 237,704 shares during the last quarter. Lazard Asset Management LLC boosted its position in ICL Group by 83.7% in the fourth quarter. Lazard Asset Management LLC now owns 102,025 shares of the basic materials company's stock worth $504,000 after purchasing an additional 46,481 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its position in ICL Group by 24.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 63,737 shares of the basic materials company's stock worth $316,000 after purchasing an additional 12,444 shares during the last quarter. Finally, Glenorchy Capital Ltd boosted its position in ICL Group by 2.6% in the fourth quarter. Glenorchy Capital Ltd now owns 331,149 shares of the basic materials company's stock worth $1,636,000 after purchasing an additional 8,388 shares during the last quarter. 13.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. BMO Capital Markets raised their target price on ICL Group from $6.00 to $6.50 and gave the stock a "market perform" rating in a research report on Thursday, February 27th. Barclays raised their target price on ICL Group from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. Finally, Wall Street Zen cut ICL Group from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th.

ICL Group Price Performance

ICL traded up $0.08 during trading on Tuesday, reaching $6.46. 462,857 shares of the company traded hands, compared to its average volume of 808,556. 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 Ltd has a 12-month low of $3.79 and a 12-month high of $6.95. The firm has a fifty day simple moving average of $6.31 and a 200 day simple moving average of $5.73. The company has a market cap of $8.48 billion, a P/E ratio of 20.82, a PEG ratio of 7.10 and a beta of 1.15.

ICL Group (NYSE:ICL - Get Free Report) last posted its earnings results on Monday, May 19th. The basic materials company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. The firm had revenue of $1.77 billion during 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%. On average, equities analysts forecast that ICL Group Ltd will post 0.37 EPS for the current year.

ICL Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Wednesday, March 12th were given a $0.0403 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This is an increase from ICL Group's previous quarterly dividend of $0.01. This represents a $0.16 dividend on an annualized basis and a yield of 2.50%. ICL Group's dividend payout ratio (DPR) is currently 51.61%.

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.