International Assets Investment Management LLC Takes $973,000 Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

International Assets Investment Management LLC purchased a new position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 23,341 shares of the basic materials company’s stock, valued at approximately $973,000.

A number of other large investors have also modified their holdings of SQM. MFA Wealth Advisors LLC grew its holdings in shares of Sociedad Química y Minera de Chile by 4.7% during the third quarter. MFA Wealth Advisors LLC now owns 7,006 shares of the basic materials company’s stock valued at $292,000 after buying an additional 313 shares during the last quarter. Signaturefd LLC lifted its position in Sociedad Química y Minera de Chile by 21.3% during the 3rd quarter. Signaturefd LLC now owns 2,500 shares of the basic materials company’s stock worth $104,000 after acquiring an additional 439 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Sociedad Química y Minera de Chile by 2.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,342 shares of the basic materials company’s stock valued at $36,984,000 after purchasing an additional 24,999 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Sociedad Química y Minera de Chile by 216.6% in the third quarter. Blue Trust Inc. now owns 2,891 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 1,978 shares during the period. Finally, Creative Planning raised its stake in shares of Sociedad Química y Minera de Chile by 63.8% in the third quarter. Creative Planning now owns 18,516 shares of the basic materials company’s stock worth $772,000 after purchasing an additional 7,209 shares during the last quarter. Hedge funds and other institutional investors own 12.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SQM shares. The Goldman Sachs Group upgraded shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research note on Friday, August 9th. Bank of America reduced their price objective on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lowered their target price on Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. Berenberg Bank initiated coverage on Sociedad Química y Minera de Chile in a report on Wednesday, July 31st. They set a “hold” rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group decreased their price target on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.69.

Sociedad Química y Minera de Chile Stock Up 1.5 %

Sociedad Química y Minera de Chile stock opened at $39.75 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.47 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $39.24 and its 200-day simple moving average is $41.38. The firm has a market capitalization of $11.35 billion, a P/E ratio of 361.36 and a beta of 1.03. Sociedad Química y Minera de Chile S.A. has a twelve month low of $32.24 and a twelve month high of $64.62.

Sociedad Química y Minera de Chile (NYSE:SQM) last released its earnings results on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.24). The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.27 billion. Sociedad Química y Minera de Chile had a net margin of 0.48% and a return on equity of 23.15%. During the same period in the previous year, the firm posted $2.03 EPS. As a group, equities analysts expect that Sociedad Química y Minera de Chile S.A. will post -0.92 earnings per share for the current fiscal year.

Sociedad Química y Minera de Chile Profile

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.