ICL Group Ltd (NYSE:ICL) Announces Quarterly Dividend of $0.04

ICL Group Ltd (NYSE:ICL - Get Free Report) declared a quarterly dividend on Friday, May 30th, Wall Street Journal reports. Stockholders of record on Wednesday, June 4th will be paid a dividend of 0.0426 per share by the basic materials company on Wednesday, June 18th. This represents a $0.17 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a 5.7% increase from ICL Group's previous quarterly dividend of $0.04.

ICL Group has decreased its dividend by an average of 3.5% per year over the last three years. ICL Group has a dividend payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect ICL Group to earn $0.42 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 38.1%.

ICL Group Stock Up 0.1%

ICL Group stock traded up $0.01 during midday trading on Friday, hitting $6.63. 581,417 shares of the stock were exchanged, compared to its average volume of 813,784. ICL Group has a 1 year low of $3.79 and a 1 year high of $6.95. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 0.91. The firm has a market cap of $8.70 billion, a P/E ratio of 21.37, a P/E/G ratio of 7.10 and a beta of 1.15. The company has a 50 day moving average price of $6.37 and a two-hundred day moving average price of $5.79.

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

Institutional Trading of ICL Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC bought a new stake in shares of ICL Group in the 1st quarter valued at approximately $107,000. Goldman Sachs Group Inc. lifted its holdings in shares of ICL Group by 120.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,153,799 shares of the basic materials company's stock worth $23,635,000 after purchasing an additional 2,267,245 shares during the last quarter. United Services Automobile Association lifted its holdings in shares of ICL Group by 20.4% in the 1st quarter. United Services Automobile Association now owns 26,218 shares of the basic materials company's stock worth $153,000 after purchasing an additional 4,438 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in ICL Group by 19.4% during the 1st quarter. Rhumbline Advisers now owns 32,793 shares of the basic materials company's stock valued at $187,000 after purchasing an additional 5,318 shares during the period. 13.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ICL. BMO Capital Markets lifted their price objective on ICL Group from $6.00 to $6.50 and gave the stock a "market perform" rating in a report on Thursday, February 27th. Wall Street Zen downgraded shares of ICL Group from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. Finally, Barclays upped 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 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.