Canada Pension Plan Investment Board Cuts Holdings in Israel Chemicals Ltd (ICL)
Canada Pension Plan Investment Board lowered its position in Israel Chemicals Ltd (NYSE:ICL) by 6.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,677,720 shares of the basic materials company’s stock after selling 110,650 shares during the period. Canada Pension Plan Investment Board’s holdings in Israel Chemicals were worth $10,243,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Winslow Capital Management LLC purchased a new stake in shares of Israel Chemicals during the third quarter valued at $1,183,000. FMR LLC purchased a new stake in shares of Israel Chemicals during the third quarter valued at $25,668,000. Bank of New York Mellon Corp boosted its position in shares of Israel Chemicals by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 1,982,567 shares of the basic materials company’s stock valued at $11,955,000 after buying an additional 19,052 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Israel Chemicals during the third quarter valued at $201,000. Finally, Artemis Investment Management LLP purchased a new stake in shares of Israel Chemicals during the third quarter valued at $49,871,000. 9.19% of the stock is owned by institutional investors and hedge funds.
ICL has been the topic of several recent analyst reports. Zacks Investment Research raised Israel Chemicals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a $6.57 price objective on shares of Israel Chemicals in a research report on Sunday, October 21st. ValuEngine raised Israel Chemicals from a “hold” rating to a “buy” rating in a research report on Friday, August 24th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $5.25 price objective on shares of Israel Chemicals in a research report on Wednesday, September 19th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.69.
Israel Chemicals (NYSE:ICL) last released its quarterly earnings data on Thursday, November 1st. The basic materials company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Israel Chemicals had a return on equity of 13.67% and a net margin of 23.84%. Israel Chemicals’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. As a group, equities analysts anticipate that Israel Chemicals Ltd will post 0.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Tuesday, December 4th will be given a $0.051 dividend. This represents a $0.20 annualized dividend and a yield of 3.66%. This is a boost from Israel Chemicals’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Monday, December 3rd. Israel Chemicals’s dividend payout ratio (DPR) is presently 32.26%.
Israel Chemicals Company Profile
Israel Chemicals Ltd. operates as a specialty minerals company worldwide. The company operates through two segments, Essential Minerals and Specialty Solutions. The company extracts potash from the Dead Sea; mines and produces potash, salt, and Polysulphate; and produces, markets, and sells pure magnesium and magnesium alloys, as well as produces dry carnallite and related by-products, including chlorine and sylvinite.
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