Barclays Cuts ICL Group (NYSE:ICL) Price Target to $6.00

ICL Group (NYSE:ICL) had its price target decreased by Barclays from $7.00 to $6.00 in a research report sent to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the basic materials company’s stock.

ICL has been the topic of several other reports. Wall Street Zen raised shares of ICL Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded shares of ICL Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.00.

ICL Group Stock Performance

ICL Group stock opened at $5.12 on Monday. The stock has a 50-day simple moving average of $5.46 and a 200 day simple moving average of $5.45. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 25.57 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 0.35. ICL Group has a 12-month low of $4.76 and a 12-month high of $6.97.

ICL Group (NYSE:ICL) last issued its quarterly earnings data on Wednesday, May 13th. The basic materials company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. ICL Group had a net margin of 3.52% and a return on equity of 7.84%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.92 billion. On average, research analysts anticipate that ICL Group will post 0.43 earnings per share for the current fiscal year.

ICL Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Tuesday, June 2nd were issued a dividend of $0.0535 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.21 annualized dividend and a yield of 4.2%. This is an increase from ICL Group’s previous quarterly dividend of $0.05. ICL Group’s dividend payout ratio (DPR) is presently 80.00%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its position in shares of ICL Group by 351.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,157 shares of the basic materials company’s stock worth $30,000 after buying an additional 4,014 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in ICL Group in the fourth quarter valued at approximately $38,000. Boothbay Fund Management LLC acquired a new position in ICL Group in the fourth quarter valued at approximately $59,000. Sei Investments Co. bought a new position in ICL Group in the first quarter valued at approximately $54,000. Finally, Thrivent Financial for Lutherans bought a new position in ICL Group in the second quarter valued at approximately $72,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

ICL Group Company Profile

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange (NYSE: ICL). The company’s origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL’s core operations are organized into three principal business areas.