ICL Group (NYSE:ICL) Stock Price Breaks Below 50-Day Moving Average - Time to Sell?

Key Points

• ICL Group shares fell below their 50-day moving average, trading as low as $5.02 compared with the $5.46 average, and last traded near $5.04.
• Analysts maintain a generally cautious outlook: ICL has a consensus “Hold” rating and a $6.00 average price target, while Barclays lowered its target from $7.00 to $6.00.
• The company reported quarterly EPS of $0.12, exceeding estimates, and increased its quarterly dividend to $0.0581, producing an annualized yield of about 4.6%.

ICL Group Ltd. (NYSE:ICL - Get Free Report) passed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $5.46 and traded as low as $5.02. ICL Group shares last traded at $5.0350, with a volume of 888,957 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of ICL Group from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. Barclays dropped their target price on shares of ICL Group from $7.00 to $6.00 and set an "equal weight" rating for the company in a research report on Monday, July 27th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of ICL Group in a report on Friday, July 31st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, ICL Group presently has a consensus rating of "Hold" and an average target price of $6.00.

ICL Group Stock Down 2.0%

The firm has a market capitalization of $6.50 billion, a PE ratio of 20.98 and a beta of 0.98. The company has a fifty day moving average price of $5.46 and a 200-day moving average price of $5.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.94 and a current ratio of 1.58.

ICL Group (NYSE:ICL - Get Free Report) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. ICL Group had a return on equity of 8.40% and a net margin of 3.95%.The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.01 billion. As a group, analysts expect that ICL Group Ltd. will post 0.44 earnings per share for the current year.

ICL Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were paid a $0.0581 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Wednesday, September 2nd. This is an increase from ICL Group's previous quarterly dividend of $0.0535. ICL Group's dividend payout ratio is 70.83%.

Institutional Trading of ICL Group

Several hedge funds have recently made changes to their positions in the business. Sei Investments Co. purchased a new stake in ICL Group during the first quarter valued at approximately $54,000. R Squared Ltd purchased a new position in shares of ICL Group in the 1st quarter worth approximately $62,000. Ground Swell Capital LLC bought a new position in shares of ICL Group during the 1st quarter valued at approximately $69,000. Greenspring Advisors LLC bought a new position in shares of ICL Group during the 4th quarter valued at approximately $71,000. Finally, Keybank National Association OH bought a new position in shares of ICL Group during the 1st quarter valued at approximately $101,000. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

ICL Group Company Profile

ICL Group Ltd. NYSE: ICL is a global specialty minerals and chemicals company headquartered in Israel. The company develops, produces and markets mineral-based products used in agriculture, food, engineered materials and industrial applications.

ICL's portfolio includes potash and phosphate fertilizers, specialty fertilizers, crop nutrition products and agriculture-focused solutions. It also produces bromine and bromine-based compounds, phosphates, potash-derived industrial materials and specialty chemicals used in areas such as flame retardants, water treatment, food ingredients and energy storage.

The company traces its origins to Israel's mineral resources and operates production, research, sales and distribution activities across multiple regions, including Israel, Europe, North America, South America and Asia.

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