NS Partners Ltd Cuts Stock Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

NS Partners Ltd cut its holdings in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 45.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,100 shares of the basic materials company’s stock after selling 5,032 shares during the quarter. NS Partners Ltd’s holdings in Sociedad Química y Minera de Chile were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in Sociedad Química y Minera de Chile by 396.2% during the second quarter. Blue Trust Inc. now owns 913 shares of the basic materials company’s stock worth $37,000 after buying an additional 729 shares during the last quarter. Signaturefd LLC grew its position in shares of Sociedad Química y Minera de Chile by 204.9% during the 2nd quarter. Signaturefd LLC now owns 2,061 shares of the basic materials company’s stock valued at $84,000 after acquiring an additional 1,385 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Sociedad Química y Minera de Chile by 47.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,133 shares of the basic materials company’s stock worth $87,000 after purchasing an additional 683 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Sociedad Química y Minera de Chile by 216.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,968 shares of the basic materials company’s stock worth $207,000 after purchasing an additional 3,398 shares during the period. Finally, Credit Capital Investments LLC purchased a new position in Sociedad Química y Minera de Chile in the third quarter valued at approximately $208,000. 12.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SQM shares. Jefferies Financial Group decreased their target price on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Berenberg Bank initiated coverage on shares of Sociedad Química y Minera de Chile in a research note on Wednesday, July 31st. They set a “hold” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. cut shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $55.00 to $44.00 in a report on Friday, October 11th. The Goldman Sachs Group upgraded Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Bank of America dropped their price objective on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.69.

Sociedad Química y Minera de Chile Stock Up 1.0 %

NYSE SQM opened at $39.14 on Wednesday. The business’s 50-day moving average is $39.58 and its 200 day moving average is $40.78. The stock has a market capitalization of $11.18 billion, a PE ratio of 355.82 and a beta of 1.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.47. Sociedad Química y Minera de Chile S.A. has a 1 year low of $32.24 and a 1 year high of $64.62.

Sociedad Química y Minera de Chile (NYSE:SQM) last released its quarterly earnings results on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.24). The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $2.03 EPS. Sell-side analysts forecast that Sociedad Química y Minera de Chile S.A. will post -0.92 earnings per share for the current year.

About Sociedad Química y Minera de Chile

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.