Wellington Management Group LLP Invests $3.14 Million in ICL Group Ltd (NYSE:ICL)

Wellington Management Group LLP bought a new stake in ICL Group Ltd (NYSE:ICL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 635,609 shares of the basic materials company’s stock, valued at approximately $3,140,000.

A number of other institutional investors have also recently bought and sold shares of ICL. Charles Schwab Investment Management Inc. boosted its holdings in shares of ICL Group by 49.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 78,139 shares of the basic materials company’s stock valued at $335,000 after purchasing an additional 25,992 shares during the last quarter. Verition Fund Management LLC raised its position in shares of ICL Group by 48.9% in the 3rd quarter. Verition Fund Management LLC now owns 30,469 shares of the basic materials company’s stock worth $129,000 after buying an additional 10,000 shares during the period. Stifel Financial Corp boosted its holdings in ICL Group by 65.0% in the third quarter. Stifel Financial Corp now owns 591,187 shares of the basic materials company’s stock valued at $2,513,000 after acquiring an additional 232,842 shares during the last quarter. XTX Topco Ltd purchased a new stake in ICL Group during the third quarter valued at about $126,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in ICL Group during the third quarter valued at about $589,000. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

ICL Group Price Performance

Shares of NYSE ICL opened at $6.28 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 0.91. ICL Group Ltd has a 1-year low of $3.79 and a 1-year high of $6.57. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 7.10 and a beta of 1.18. The business has a 50-day moving average of $5.96 and a 200-day moving average of $5.19.

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

ICL Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Wednesday, March 12th were issued a dividend of $0.0403 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.57%. This is a positive change from ICL Group’s previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, March 12th. ICL Group’s dividend payout ratio (DPR) is presently 50.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays raised their price objective on ICL Group from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. StockNews.com cut shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Finally, BMO Capital Markets increased their price objective on shares of ICL Group from $6.00 to $6.50 and gave the stock a “market perform” rating in a research report on Thursday, February 27th.

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.