ICL Group Ltd. (NYSE:ICL) Short Interest Up 40.1% in October

ICL Group Ltd. (NYSE:ICL) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 2,130,000 shares, an increase of 40.1% from the September 30th total of 1,520,000 shares. Based on an average trading volume of 672,200 shares, the days-to-cover ratio is presently 3.2 days. Currently, 0.3% of the company’s stock are sold short. Currently, 0.3% of the company’s stock are sold short. Based on an average trading volume of 672,200 shares, the days-to-cover ratio is presently 3.2 days.

ICL Group Stock Down 0.1%

NYSE:ICL opened at $6.58 on Wednesday. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 22.67 and a beta of 1.10. ICL Group has a one year low of $4.11 and a one year high of $7.35. The stock has a 50-day simple moving average of $6.32 and a 200 day simple moving average of $6.53. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.75.

ICL Group (NYSE:ICL) last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.82 billion. ICL Group had a return on equity of 7.51% and a net margin of 5.28%. Sell-side analysts predict that ICL Group will post 0.37 EPS for the current fiscal year.

ICL Group Announces Dividend

The company also recently declared a — dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were paid a $0.0426 dividend. This represents a yield of 290.0%. The ex-dividend date was Wednesday, September 3rd. ICL Group’s dividend payout ratio (DPR) is 58.62%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ICL Group in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, ICL Group currently has an average rating of “Hold” and an average price target of $6.57.

Hedge Funds Weigh In On ICL Group

Hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new position in ICL Group in the first quarter valued at approximately $163,000. Bank of New York Mellon Corp boosted its stake in ICL Group by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 1,626,865 shares of the basic materials company’s stock valued at $9,257,000 after acquiring an additional 89,399 shares during the period. Callan Capital LLC boosted its stake in ICL Group by 12.6% in the first quarter. Callan Capital LLC now owns 18,531 shares of the basic materials company’s stock valued at $104,000 after acquiring an additional 2,076 shares during the period. M&T Bank Corp boosted its stake in ICL Group by 13.0% in the first quarter. M&T Bank Corp now owns 14,925 shares of the basic materials company’s stock valued at $85,000 after acquiring an additional 1,716 shares during the period. Finally, Cerity Partners LLC boosted its stake in ICL Group by 135.4% in the first quarter. Cerity Partners LLC now owns 196,246 shares of the basic materials company’s stock valued at $1,109,000 after acquiring an additional 112,865 shares during the period. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.