ICL Group Ltd. (NYSE:ICL) Sees Significant Increase in Short Interest

ICL Group Ltd. (NYSE:ICL) was the target of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 2,133,195 shares, an increase of 14.4% from the February 12th total of 1,863,958 shares. Based on an average trading volume of 1,611,147 shares, the short-interest ratio is presently 1.3 days. Based on an average trading volume of 1,611,147 shares, the short-interest ratio is presently 1.3 days.

Analyst Ratings Changes

Several equities analysts recently weighed in on ICL shares. Wall Street Zen lowered ICL Group from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of ICL Group in a report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, ICL Group currently has an average rating of “Hold” and a consensus price target of $6.10.

ICL Group Trading Down 0.8%

Shares of ICL traded down $0.05 during mid-day trading on Wednesday, hitting $5.34. 375,911 shares of the company were exchanged, compared to its average volume of 1,587,052. ICL Group has a 1-year low of $4.76 and a 1-year high of $7.35. The company has a 50 day moving average of $5.37 and a 200-day moving average of $5.69. The company has a quick ratio of 0.71, a current ratio of 1.33 and a debt-to-equity ratio of 0.30.

ICL Group (NYSE:ICL) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.77 billion. ICL Group had a net margin of 3.16% and a return on equity of 7.44%. Equities analysts forecast that ICL Group will post 0.37 EPS for the current year.

ICL Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.0465 per share. This represents a $0.19 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, March 10th. ICL Group’s dividend payout ratio (DPR) is presently 82.35%.

Hedge Funds Weigh In On ICL Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ICL. MAI Capital Management lifted its position in ICL Group by 2,055.0% during the 2nd quarter. MAI Capital Management now owns 4,310 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 4,110 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of ICL Group by 351.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,157 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 4,014 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of ICL Group in the fourth quarter valued at about $38,000. Boothbay Fund Management LLC purchased a new stake in ICL Group during the fourth quarter worth about $59,000. Finally, Centiva Capital LP acquired a new position in ICL Group during the third quarter worth about $69,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

ICL Group Company Profile

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange (NYSE: ICL). The company’s origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL’s core operations are organized into three principal business areas.