Wells Fargo & Company MN Cuts Stock Holdings in ICL Group Ltd (NYSE:ICL)

Wells Fargo & Company MN reduced its holdings in shares of ICL Group Ltd (NYSE:ICL - Free Report) by 29.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,682 shares of the basic materials company's stock after selling 45,558 shares during the quarter. Wells Fargo & Company MN's holdings in ICL Group were worth $527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ICL. Lindbrook Capital LLC lifted its stake in shares of ICL Group by 56.8% in the 4th quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 1,910 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in ICL Group by 223.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 10,715 shares of the basic materials company's stock worth $53,000 after buying an additional 7,405 shares during the period. Savant Capital LLC bought a new stake in ICL Group during the 4th quarter worth approximately $54,000. Wealthstream Advisors Inc. bought a new position in shares of ICL Group during the fourth quarter valued at $57,000. Finally, Seven Mile Advisory acquired a new position in shares of ICL Group during the fourth quarter worth $59,000. Institutional investors own 13.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ICL shares. BMO Capital Markets lifted their target price on ICL Group from $6.00 to $6.50 and gave the stock a "market perform" rating in a report on Thursday, February 27th. Barclays lifted their target price on shares of ICL Group from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th. Finally, StockNews.com downgraded ICL Group from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 27th.

ICL Group Stock Up 0.6 %

ICL traded up $0.04 during midday trading on Friday, hitting $6.88. The company had a trading volume of 67,737 shares, compared to its average volume of 796,718. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 7.10 and a beta of 1.15. The stock's 50 day moving average price is $6.18 and its 200 day moving average price is $5.51. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. ICL Group Ltd has a 52 week low of $3.79 and a 52 week high of $6.92.

ICL Group (NYSE:ICL - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The basic materials company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. On average, research analysts anticipate that ICL Group Ltd will post 0.37 earnings per share for the current fiscal year.

ICL Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.0403 per share. The ex-dividend date was Wednesday, March 12th. This is an increase from ICL Group's previous quarterly dividend of $0.01. This represents a $0.16 annualized dividend and a dividend yield of 2.34%. ICL Group's payout ratio is presently 50.00%.

ICL Group 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.