Short Interest in ICL Group Ltd (NYSE:ICL) Drops By 32.0%

ICL Group Ltd (NYSE:ICL) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,020,000 shares, a decline of 32.0% from the March 15th total of 2,970,000 shares. Based on an average daily trading volume, of 944,700 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

ICL Group Price Performance

Shares of NYSE:ICL traded up $0.06 on Friday, reaching $6.37. The company’s stock had a trading volume of 447,976 shares, compared to its average volume of 789,538. The company has a 50-day simple moving average of $5.99 and a 200 day simple moving average of $5.24. ICL Group has a 52-week low of $3.79 and a 52-week high of $6.57. 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 $8.36 billion, a P/E ratio of 20.53, a PEG ratio of 7.10 and a beta of 1.18.

ICL Group (NYSE:ICL) last posted its quarterly earnings data on Wednesday, February 26th. The basic materials company reported $0.08 EPS 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 company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.65 billion. As a group, equities research analysts anticipate that ICL Group will post 0.37 EPS for the current fiscal year.

ICL Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Wednesday, March 12th were issued a $0.0403 dividend. The ex-dividend date was Wednesday, March 12th. This is a boost from ICL Group’s previous quarterly dividend of $0.01. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.53%. ICL Group’s dividend payout ratio is presently 50.00%.

Hedge Funds Weigh In On ICL Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC raised its position in ICL Group by 56.8% during the 4th quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 1,910 shares in the last quarter. GeoWealth Management LLC increased its stake in shares of ICL Group by 754.0% during the fourth quarter. GeoWealth Management LLC now owns 7,447 shares of the basic materials company’s stock valued at $37,000 after buying an additional 6,575 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of ICL Group by 223.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 10,715 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 7,405 shares in the last quarter. Savant Capital LLC purchased a new stake in ICL Group in the fourth quarter worth about $54,000. Finally, Wealthstream Advisors Inc. bought a new position in ICL Group during the 4th quarter worth about $57,000. 13.38% of the stock is currently owned by institutional investors.

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.