Swiss National Bank Increases Stock Holdings in ICL Group Ltd. $ICL

Key Points

• Swiss National Bank increased its stake in ICL Group by 27.6% in the first quarter, buying 617,801 additional shares and bringing its total holding to 2,856,439 shares valued at about $14.6 million.
• ICL Group reported stronger-than-expected quarterly results, posting EPS of $0.11 versus the $0.10 estimate and revenue of $2.02 billion versus expectations of $1.92 billion.
• The company also raised its quarterly dividend to $0.0535 per share, implying an annualized yield of 4.1%; meanwhile, analysts currently rate the stock a consensus Hold with a $7.00 price target.

Swiss National Bank boosted its position in shares of ICL Group Ltd. (NYSE:ICL - Free Report) by 27.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,856,439 shares of the basic materials company's stock after purchasing an additional 617,801 shares during the period. Swiss National Bank owned approximately 0.22% of ICL Group worth $14,615,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in 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 valued at $30,000 after acquiring an additional 4,014 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in ICL Group in the 4th quarter valued at about $38,000. Boothbay Fund Management LLC acquired a new position in shares of ICL Group in the fourth quarter valued at approximately $59,000. R Squared Ltd purchased a new stake in shares of ICL Group during the first quarter worth $62,000. Finally, Ground Swell Capital LLC purchased a new position in ICL Group in the first quarter valued at $69,000. Hedge funds and other institutional investors own 13.38% of the company's stock.

Wall Street Analysts Forecast Growth

ICL has been the topic of a number of analyst reports. Wall Street Zen raised ICL Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Barclays lifted their price target on shares of ICL Group from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Monday, May 18th. Finally, Weiss Ratings raised shares of ICL Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, ICL Group has an average rating of "Hold" and a consensus price target of $7.00.

ICL Group Stock Performance

Shares of ICL opened at $5.28 on Friday. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 26.38 and a beta of 0.97. ICL Group Ltd. has a 52-week low of $4.76 and a 52-week high of $6.97. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $5.54 and a 200 day moving average price of $5.46.

ICL Group (NYSE:ICL - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The basic materials company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. ICL Group had a net margin of 3.52% and a return on equity of 7.84%. The company had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.92 billion. Research analysts predict that ICL Group Ltd. will post 0.43 EPS for the current fiscal year.

ICL Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Tuesday, June 2nd were paid a dividend of $0.0535 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.21 dividend on an annualized basis and a yield of 4.1%. This is a boost from ICL Group's previous quarterly dividend of $0.05. ICL Group's dividend payout ratio (DPR) is 80.00%.

ICL Group 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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