ICL Group Ltd (NYSE:ICL) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. boosted its holdings in shares of ICL Group Ltd (NYSE:ICL) by 23.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,130 shares of the basic materials company’s stock after purchasing an additional 11,012 shares during the period. Balyasny Asset Management L.P.’s holdings in ICL Group were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in ICL Group by 85.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 145,072 shares of the basic materials company’s stock valued at $717,000 after purchasing an additional 66,933 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in ICL Group by 2.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,362,914 shares of the basic materials company’s stock valued at $41,336,000 after purchasing an additional 219,101 shares during the period. Meitav Investment House Ltd. raised its position in shares of ICL Group by 21.3% in the fourth quarter. Meitav Investment House Ltd. now owns 20,551,025 shares of the basic materials company’s stock worth $101,391,000 after acquiring an additional 3,606,357 shares during the period. M&T Bank Corp acquired a new position in shares of ICL Group in the fourth quarter worth about $65,000. Finally, Vanguard Group Inc. raised its position in shares of ICL Group by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 26,898,125 shares of the basic materials company’s stock worth $132,850,000 after acquiring an additional 626,553 shares during the period. 13.38% of the stock is currently owned by institutional investors and hedge funds.

ICL Group Trading Down 0.7%

Shares of ICL Group stock opened at $6.74 on Friday. ICL Group Ltd has a fifty-two week low of $3.79 and a fifty-two week high of $6.95. 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 firm has a 50-day simple moving average of $6.27 and a two-hundred day simple moving average of $5.63. The company has a market cap of $8.85 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 7.10 and a beta of 1.15.

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 the consensus estimate of $0.08. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. As a group, equities analysts predict that ICL Group Ltd will post 0.37 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 25th. Investors of record on Wednesday, March 12th were given a dividend of $0.0403 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Wednesday, March 12th. This is an increase from ICL Group’s previous quarterly dividend of $0.01. ICL Group’s dividend payout ratio is 50.00%.

Wall Street Analyst Weigh In

ICL has been the subject of a number of analyst reports. StockNews.com downgraded shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. BMO Capital Markets upped 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. Finally, Barclays upped their price objective on shares of ICL Group from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th.

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.