ICL Group (NYSE:ICL) Shares Gap Up - Still a Buy?

ICL Group Ltd (NYSE:ICL - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $6.57, but opened at $6.99. ICL Group shares last traded at $6.98, with a volume of 227,004 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on ICL. Wall Street Zen cut shares of ICL Group from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 27th. BMO Capital Markets increased their price objective on ICL Group from $6.00 to $6.50 and gave the company a "market perform" rating in a report on Thursday, February 27th. Finally, Barclays increased their price objective on 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 Trading Down 3.5%

The stock has a market cap of $8.85 billion, a PE ratio of 21.73, a PEG ratio of 7.10 and a beta of 1.15. The business has a 50-day moving average of $6.43 and a 200 day moving average of $5.83. 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 posted its quarterly earnings results on Monday, May 19th. The basic materials company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.82 billion. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. Equities research analysts predict that ICL Group Ltd will post 0.37 EPS for the current fiscal year.

ICL Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.0426 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from ICL Group's previous quarterly dividend of $0.04. This represents a $0.17 annualized dividend and a yield of 2.53%. ICL Group's payout ratio is 51.61%.

Institutional Investors Weigh In On ICL Group

A number of institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC boosted its position in ICL Group by 56.8% during the 4th quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company's stock worth $26,000 after acquiring an additional 1,910 shares during the period. GeoWealth Management LLC raised its position in ICL Group by 754.0% during the fourth quarter. GeoWealth Management LLC now owns 7,447 shares of the basic materials company's stock valued at $37,000 after buying an additional 6,575 shares during the period. Foster Group Inc. acquired a new position in ICL Group in the 1st quarter worth about $59,000. Savant Capital LLC acquired a new position in ICL Group in the 4th quarter worth about $54,000. Finally, Simon Quick Advisors LLC acquired a new position in ICL Group in the 1st quarter worth about $64,000. 13.38% of the stock is currently owned by institutional investors.

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.