ICL Group (NYSE:ICL) Shares Gap Down – Here’s Why

ICL Group Ltd (NYSE:ICL) shares gapped down before the market opened on Thursday . The stock had previously closed at $4.98, but opened at $4.86. ICL Group shares last traded at $4.85, with a volume of 89,422 shares traded.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of ICL Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th.

ICL Group Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 1.56. The company has a market cap of $6.40 billion, a P/E ratio of 15.71, a P/E/G ratio of 7.00 and a beta of 1.25. The stock’s fifty day moving average price is $4.55 and its two-hundred day moving average price is $4.36.

ICL Group (NYSE:ICL) last released its earnings results on Monday, November 11th. The basic materials company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $0.11 earnings per share. As a group, equities analysts predict that ICL Group Ltd will post 0.35 earnings per share for the current year.

ICL Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.0133 per share. This represents a $0.05 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Wednesday, December 4th. ICL Group’s dividend payout ratio (DPR) is presently 45.16%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Y.D. More Investments Ltd grew its position in ICL Group by 2,927,153.2% during the 2nd quarter. Y.D. More Investments Ltd now owns 14,636,266 shares of the basic materials company’s stock worth $62,766,000 after acquiring an additional 14,635,766 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of ICL Group during the third quarter valued at about $11,967,000. Crossmark Global Holdings Inc. bought a new stake in shares of ICL Group during the third quarter worth about $6,689,000. Altshuler Shaham Ltd increased its stake in shares of ICL Group by 3.2% in the second quarter. Altshuler Shaham Ltd now owns 44,119,257 shares of the basic materials company’s stock valued at $189,200,000 after buying an additional 1,360,670 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in ICL Group in the 3rd quarter valued at approximately $1,316,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

ICL Group Company 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.