Peregrine Investment Management Inc. Takes Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Peregrine Investment Management Inc. bought a new stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 151,390 shares of the basic materials company’s stock, valued at approximately $5,505,000. Sociedad Química y Minera de Chile accounts for about 3.2% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Peregrine Investment Management Inc. owned 0.05% of Sociedad Química y Minera de Chile as of its most recent filing with the Securities & Exchange Commission.

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

Sociedad Química y Minera de Chile Trading Down 3.8 %

Shares of SQM opened at $38.64 on Friday. The firm has a fifty day moving average of $38.60 and a 200-day moving average of $38.52. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.94 and a quick ratio of 2.05. Sociedad Química y Minera de Chile S.A. has a 1 year low of $32.24 and a 1 year high of $51.90.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SQM shares. Deutsche Bank Aktiengesellschaft cut their price objective on Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. StockNews.com upgraded Sociedad Química y Minera de Chile to a “sell” rating in a research note on Thursday, November 21st. Finally, Scotiabank lowered their target price on shares of Sociedad Química y Minera de Chile from $60.00 to $50.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.56.

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.