ICL Group (NYSE:ICL) Price Target Raised to $6.20

ICL Group (NYSE:ICL) had its price objective lifted by Morgan Stanley from $5.80 to $6.20 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the basic materials company’s stock.

Separately, Barclays upped their target price on ICL Group from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th.

ICL Group Price Performance

Shares of ICL stock opened at $7.31 on Wednesday. The business’s fifty day simple moving average is $6.72 and its 200-day simple moving average is $6.11. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.30. ICL Group has a 12-month low of $3.79 and a 12-month high of $7.35.

ICL Group (NYSE:ICL) last issued its quarterly earnings results on Monday, May 19th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.82 billion. ICL Group had a return on equity of 7.86% and a net margin of 5.66%. As a group, analysts expect that ICL Group will post 0.37 earnings per share for the current year.

ICL Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.0426 dividend. This represents a $0.17 annualized dividend and a dividend yield of 2.33%. This is an increase from ICL Group’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Wednesday, June 4th. ICL Group’s dividend payout ratio is presently 51.61%.

Hedge Funds Weigh In On ICL Group

Several hedge funds have recently made changes to their positions in ICL. Lindbrook Capital LLC increased its position in shares of ICL Group by 56.8% in the 4th quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 1,910 shares during the period. GeoWealth Management LLC grew its position in ICL Group by 754.0% during the 4th quarter. GeoWealth Management LLC now owns 7,447 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 6,575 shares during the period. Seven Mile Advisory acquired a new stake in ICL Group during the 4th quarter worth about $59,000. Foster Group Inc. acquired a new stake in ICL Group during the 1st quarter worth about $59,000. Finally, Simon Quick Advisors LLC acquired a new stake in ICL Group during the 1st quarter worth about $64,000. 13.38% of the stock is owned by institutional investors and hedge funds.

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.