Cadence Wealth Management LLC Grows Holdings in ICL Group Ltd (NYSE:ICL)

Cadence Wealth Management LLC grew its holdings in ICL Group Ltd (NYSE:ICL) by 60.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,904 shares of the basic materials company’s stock after purchasing an additional 35,519 shares during the period. Cadence Wealth Management LLC’s holdings in ICL Group were worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ICL. Lindbrook Capital LLC increased its stake in ICL Group by 56.8% in the fourth quarter. Lindbrook Capital LLC now owns 5,273 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 1,910 shares during the period. Quantbot Technologies LP increased its stake in ICL Group by 35.6% in the third quarter. Quantbot Technologies LP now owns 11,380 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 2,985 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in 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 worth $53,000 after purchasing an additional 7,405 shares during the period. Savant Capital LLC purchased a new stake in ICL Group in the fourth quarter worth $54,000. Finally, Townsquare Capital LLC purchased a new stake in ICL Group in the third quarter worth $56,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

ICL Group Price Performance

Shares of ICL stock opened at $6.33 on Tuesday. ICL Group Ltd has a 1-year low of $3.79 and a 1-year high of $6.57. The stock’s 50-day moving average is $5.92 and its 200 day moving average is $4.95. The company has a market cap of $8.31 billion, a P/E ratio of 20.40, a PEG ratio of 7.10 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 0.91.

ICL Group (NYSE:ICL) last issued its quarterly earnings data on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. ICL Group had a return on equity of 8.31% and a net margin of 5.83%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. Research 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Wednesday, March 12th will be given a dividend of $0.0403 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.16 dividend on an annualized basis and a yield of 2.55%. This is an increase from ICL Group’s previous quarterly dividend of $0.01. ICL Group’s dividend payout ratio (DPR) is presently 50.00%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ICL. Barclays increased 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 price target on 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, StockNews.com downgraded ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th.

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.