Litman Gregory Wealth Management LLC Makes New Investment in ICL Group Ltd (NYSE:ICL)

Litman Gregory Wealth Management LLC acquired a new position in shares of ICL Group Ltd (NYSE:ICL) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,000 shares of the basic materials company’s stock, valued at approximately $56,000.

Several other large investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd increased its position in ICL Group by 3.2% during the 2nd quarter. Altshuler Shaham Ltd now owns 44,119,257 shares of the basic materials company’s stock worth $189,200,000 after buying an additional 1,360,670 shares during the period. Vanguard Group Inc. increased its position in shares of ICL Group by 1.6% in the first quarter. Vanguard Group Inc. now owns 25,286,822 shares of the basic materials company’s stock worth $136,043,000 after purchasing an additional 392,805 shares during the period. Meitav Investment House Ltd. increased its position in shares of ICL Group by 2.8% in the second quarter. Meitav Investment House Ltd. now owns 17,215,645 shares of the basic materials company’s stock worth $73,813,000 after purchasing an additional 465,031 shares during the period. Y.D. More Investments Ltd increased its position in shares of ICL Group by 2,927,153.2% in the second quarter. Y.D. More Investments Ltd now owns 14,636,266 shares of the basic materials company’s stock worth $62,766,000 after purchasing an additional 14,635,766 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of ICL Group by 6.3% in the second quarter. The Manufacturers Life Insurance Company now owns 526,644 shares of the basic materials company’s stock worth $2,281,000 after purchasing an additional 31,350 shares during the period. Institutional investors own 13.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ICL. StockNews.com cut ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 30th. Barclays decreased their target price on ICL Group from $4.50 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 16th.

ICL Group Price Performance

ICL Group stock traded down $0.02 during midday trading on Wednesday, reaching $4.09. The company’s stock had a trading volume of 33,098 shares, compared to its average volume of 768,151. The business has a 50-day moving average price of $4.16 and a 200-day moving average price of $4.41. ICL Group Ltd has a 52 week low of $3.79 and a 52 week high of $5.54. The stock has a market cap of $5.37 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 5.71 and a beta of 1.22. The company has a current ratio of 1.62, a quick ratio of 0.94 and a debt-to-equity ratio of 0.31.

ICL Group (NYSE:ICL) last announced its quarterly earnings results on Wednesday, August 14th. The basic materials company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. ICL Group had a return on equity of 8.41% and a net margin of 6.08%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted $0.13 earnings per share. On average, sell-side analysts predict that ICL Group Ltd will post 0.34 EPS for the current year.

ICL Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.037 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Wednesday, September 4th. ICL Group’s payout ratio is 37.84%.

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.