ICL Group (NYSE:ICL) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Shares of ICL Group Ltd. (NYSE:ICL) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.49 and traded as low as $5.01. ICL Group shares last traded at $5.0250, with a volume of 868,068 shares trading hands.

Wall Street Analysts Forecast Growth

ICL has been the subject of a number of analyst reports. Weiss Ratings upgraded ICL Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. Barclays boosted 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 Monday, May 18th. Finally, Wall Street Zen upgraded ICL Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.00.

ICL Group Stock Performance

The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 0.35. The stock has a market cap of $6.49 billion, a PE ratio of 25.12 and a beta of 0.97. The business’s 50-day moving average price is $5.78 and its 200-day moving average price is $5.49.

ICL Group (NYSE:ICL) last posted its earnings results on Wednesday, May 13th. The basic materials company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.92 billion. ICL Group had a net margin of 3.52% and a return on equity of 7.84%. As a group, equities research analysts expect that ICL Group Ltd. will post 0.43 earnings per share for the current fiscal year.

ICL Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.0535 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.21 annualized dividend and a dividend yield of 4.3%. This is a boost from ICL Group’s previous quarterly dividend of $0.05. ICL Group’s dividend payout ratio (DPR) is currently 80.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ICL. Farther Finance Advisors LLC increased its position in ICL Group by 351.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,157 shares of the basic materials company’s stock valued at $30,000 after buying 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 ICL Group in the fourth quarter worth about $38,000. Sei Investments Co. acquired a new stake in ICL Group in the first quarter worth about $54,000. Boothbay Fund Management LLC purchased a new stake in shares of ICL Group during the fourth quarter worth about $59,000. Finally, R Squared Ltd purchased a new stake in shares of ICL Group during the first quarter worth about $62,000. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

About ICL Group

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.