ICL Group Ltd. (NYSE:ICL) Short Interest Update

Key Points

• Short interest in ICL surged 43.3% in March to 3,056,872 shares, leaving a short-interest ratio of about 1.3 days and indicating increased bearish positioning.
• Several large investors increased or initiated stakes in Q4 — notably Vanguard, Altshuler Shaham and Norges Bank — although just 13.38% of the stock is reported as held by hedge funds and other institutional investors.
• Equity analysts carry a consensus Hold rating with an average target of $6.10, and ICL recently paid a quarterly dividend that annualizes to $0.19 (≈3.6% yield) with a payout ratio around 82%.

ICL Group Ltd. (NYSE:ICL - Get Free Report) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 3,056,872 shares, an increase of 43.3% from the February 26th total of 2,133,195 shares. Based on an average daily trading volume, of 2,293,955 shares, the short-interest ratio is presently 1.3 days.

Hedge Funds Weigh In On ICL Group

A number of large investors have recently modified their holdings of ICL. Vanguard Group Inc. boosted its stake in shares of ICL Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 29,066,383 shares of the basic materials company's stock valued at $167,132,000 after buying an additional 382,780 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in ICL Group by 96.6% during the fourth quarter. Altshuler Shaham Ltd now owns 26,349,667 shares of the basic materials company's stock worth $151,160,000 after acquiring an additional 12,946,737 shares during the period. Norges Bank purchased a new position in ICL Group in the fourth quarter worth $122,297,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in ICL Group by 42.3% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 19,537,777 shares of the basic materials company's stock valued at $112,054,000 after acquiring an additional 5,805,699 shares during the period. Finally, Y.D. More Investments Ltd boosted its position in shares of ICL Group by 5.5% during the 4th quarter. Y.D. More Investments Ltd now owns 18,738,939 shares of the basic materials company's stock worth $107,498,000 after purchasing an additional 979,321 shares in the last quarter. 13.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ICL shares. Wall Street Zen downgraded ICL Group from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of ICL Group in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $6.10.

ICL Group Stock Performance

Shares of ICL Group stock traded up $0.02 during trading hours on Friday, hitting $5.20. 3,039,175 shares of the company were exchanged, compared to its average volume of 2,180,846. The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $5.32 and a 200-day moving average of $5.63. ICL Group has a 1 year low of $4.76 and a 1 year high of $7.35. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 30.56 and a beta of 0.99.

ICL Group (NYSE:ICL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. ICL Group had a net margin of 3.16% and a return on equity of 7.44%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.77 billion. As a group, analysts expect that ICL Group will post 0.37 EPS for the current fiscal year.

ICL Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were issued a $0.0465 dividend. This represents a $0.19 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, March 10th. ICL Group's payout ratio is currently 82.35%.

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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