ICL Group Ltd (NYSE:ICL) Plans Quarterly Dividend of $0.24

ICL Group Ltd (NYSE:ICL – Get Rating) declared a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Stockholders of record on Wednesday, June 1st will be paid a dividend of 0.2383 per share by the basic materials company on Wednesday, June 15th. This represents a $0.95 annualized dividend and a dividend yield of 8.54%. The ex-dividend date of this dividend is Tuesday, May 31st. This is a boost from ICL Group’s previous quarterly dividend of $0.13.

ICL Group has a payout ratio of 58.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ICL Group to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 48.6%.

Shares of NYSE:ICL traded down $0.17 during trading on Thursday, hitting $11.16. The company’s stock had a trading volume of 1,964,835 shares, compared to its average volume of 995,524. The company has a 50-day moving average of $11.56 and a 200-day moving average of $10.31. ICL Group has a 12 month low of $6.43 and a 12 month high of $12.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.50 and a quick ratio of 0.90. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 1.93 and a beta of 1.09.

ICL Group (NYSE:ICL – Get Rating) last issued its quarterly earnings data on Wednesday, February 9th. The basic materials company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.09. ICL Group had a net margin of 11.26% and a return on equity of 18.52%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business earned $0.05 EPS. As a group, research analysts anticipate that ICL Group will post 1.34 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in ICL. Citadel Advisors LLC grew its holdings in ICL Group by 65.6% during the 2nd quarter. Citadel Advisors LLC now owns 122,079 shares of the basic materials company’s stock valued at $837,000 after buying an additional 48,374 shares in the last quarter. Wells Fargo & Company MN grew its holdings in ICL Group by 3,128.3% during the 2nd quarter. Wells Fargo & Company MN now owns 201,153 shares of the basic materials company’s stock valued at $1,366,000 after buying an additional 194,922 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in ICL Group during the 3rd quarter valued at approximately $109,000. Millennium Management LLC grew its holdings in ICL Group by 108.2% during the 3rd quarter. Millennium Management LLC now owns 256,326 shares of the basic materials company’s stock valued at $1,863,000 after buying an additional 133,201 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in ICL Group by 38.2% during the 3rd quarter. Jane Street Group LLC now owns 23,304 shares of the basic materials company’s stock valued at $171,000 after buying an additional 6,446 shares in the last quarter.

Several research firms recently issued reports on ICL. Citigroup lowered shares of ICL Group from a “buy” rating to a “neutral” rating in a report on Monday, January 24th. Zacks Investment Research lowered shares of ICL Group from a “buy” rating to a “hold” rating in a report on Friday, April 22nd. StockNews.com began coverage on shares of ICL Group in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Morgan Stanley increased their target price on shares of ICL Group from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, March 17th. Three analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $12.50.

About ICL Group (Get Rating)

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 Innovative Ag Solutions (IAS). 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.

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