Drive Wealth Management LLC Increases Stock Position in ICL Group Ltd (NYSE:ICL)

Drive Wealth Management LLC lifted its holdings in ICL Group Ltd (NYSE:ICL) by 23.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,686 shares of the basic materials company’s stock after acquiring an additional 3,317 shares during the quarter. Drive Wealth Management LLC’s holdings in ICL Group were worth $89,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ICL. Advisor Group Holdings Inc. lifted its position in shares of ICL Group by 1,091.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,002 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 2,750 shares during the period. Ronald Blue Trust Inc. lifted its position in shares of ICL Group by 82.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 7,661 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 3,460 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of ICL Group in the 4th quarter worth approximately $58,000. Two Sigma Securities LLC purchased a new stake in shares of ICL Group in the 2nd quarter worth approximately $61,000. Finally, Blue Trust Inc. lifted its position in ICL Group by 45.6% during the fourth quarter. Blue Trust Inc. now owns 11,156 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 3,495 shares during the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ICL shares. Barclays increased their target price on shares of ICL Group from $4.00 to $4.50 and gave the company an “underweight” rating in a research report on Friday, March 1st. TheStreet cut shares of ICL Group from a “b-” rating to a “c+” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.75.

ICL Group Trading Down 2.3 %

NYSE:ICL opened at $5.20 on Wednesday. The firm has a 50 day moving average of $5.00 and a 200 day moving average of $5.05. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 9.42 and a beta of 1.22. ICL Group Ltd has a 52 week low of $4.30 and a 52 week high of $6.91. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 0.30.

ICL Group (NYSE:ICL) last posted its quarterly earnings results on Wednesday, February 28th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.68 billion. ICL Group had a net margin of 8.65% and a return on equity of 12.04%. As a group, sell-side analysts anticipate that ICL Group Ltd will post 0.39 earnings per share for the current fiscal year.

ICL Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, March 14th were issued a $0.0476 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.19 dividend on an annualized basis and a dividend yield of 3.67%. This is a boost from ICL Group’s previous quarterly dividend of $0.04. ICL Group’s dividend payout ratio (DPR) is currently 37.26%.

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.