269,748 Sociedad Quimica y Minera S.A. $SQM Shares Sold by RWC Asset Management LLP

Key Points

• RWC Asset Management cut its SQM position by 41.9% in the third quarter, selling 269,748 shares and retaining 373,699 shares worth approximately $24.2 million. Institutional investors and hedge funds collectively own 12.41% of the company.
• SQM reported strong quarterly results, earning $2.31 per share versus the $2.03 consensus estimate and generating $2.47 billion in revenue, up 136.7% year over year. The company also paid a special $1.435-per-share dividend.
• Analyst sentiment remains generally positive but mixed, with SQM carrying a “Moderate Buy” consensus rating and an average price target of $86.12, compared with a recent share price of $57.14.

RWC Asset Management LLP trimmed its position in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 41.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 373,699 shares of the basic materials company's stock after selling 269,748 shares during the period. RWC Asset Management LLP owned approximately 0.13% of Sociedad Quimica y Minera worth $24,242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its holdings in shares of Sociedad Quimica y Minera by 5.9% during the first quarter. Sequoia Financial Advisors LLC now owns 3,767 shares of the basic materials company's stock worth $305,000 after buying an additional 210 shares in the last quarter. GAMMA Investing LLC raised its position in Sociedad Quimica y Minera by 65.6% in the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the basic materials company's stock valued at $40,000 after buying an additional 246 shares during the last quarter. Parallel Advisors LLC lifted its stake in Sociedad Quimica y Minera by 43.2% in the 1st quarter. Parallel Advisors LLC now owns 822 shares of the basic materials company's stock valued at $67,000 after acquiring an additional 248 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Sociedad Quimica y Minera by 59.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 839 shares of the basic materials company's stock worth $68,000 after acquiring an additional 313 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Sociedad Quimica y Minera during the 4th quarter worth approximately $29,000. 12.41% of the stock is owned by institutional investors and hedge funds.

Sociedad Quimica y Minera Stock Up 1.4%

Shares of NYSE SQM traded up $0.77 during trading hours on Friday, hitting $57.14. The company had a trading volume of 875,189 shares, compared to its average volume of 952,958. The stock has a market capitalization of $16.32 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 0.19 and a beta of 1.05. The company has a quick ratio of 1.96, a current ratio of 2.61 and a debt-to-equity ratio of 0.55. Sociedad Quimica y Minera S.A. has a 1-year low of $43.35 and a 1-year high of $98.00. The firm's 50 day moving average is $69.83 and its 200-day moving average is $75.75.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last issued its earnings results on Friday, August 14th. The basic materials company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.28. Sociedad Quimica y Minera had a net margin of 20.62% and a return on equity of 18.20%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The firm's revenue for the quarter was up 136.7% on a year-over-year basis. On average, analysts expect that Sociedad Quimica y Minera S.A. will post 7.45 earnings per share for the current fiscal year.

Sociedad Quimica y Minera Announces Dividend

The company also recently disclosed a special dividend, which was paid on Monday, September 21st. Stockholders of record on Tuesday, September 8th were given a $1.4350 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. Sociedad Quimica y Minera's dividend payout ratio (DPR) is 34.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Weiss Ratings cut shares of Sociedad Quimica y Minera from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, October 12th. Scotiabank boosted their price objective on shares of Sociedad Quimica y Minera from $93.00 to $104.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 24th. JPMorgan Chase & Co. reduced their target price on shares of Sociedad Quimica y Minera from $94.00 to $88.00 and set a "neutral" rating for the company in a report on Friday, September 18th. Wall Street Zen downgraded shares of Sociedad Quimica y Minera from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 17th. Finally, The Goldman Sachs Group lifted their price target on shares of Sociedad Quimica y Minera from $64.00 to $82.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $86.12.

Sociedad Quimica y Minera Company Profile

Sociedad Química y Minera de Chile SA NYSE: SQM, commonly known as SQM, is a Chilean chemical and mining company headquartered in Santiago. Founded in 1968, the company develops and produces specialty chemicals and plant nutrients from mineral resources in northern Chile.

SQM is one of the world's major producers of lithium compounds, including lithium carbonate and lithium hydroxide, which are used in rechargeable batteries and other industrial applications. The company also produces iodine and iodine derivatives, potassium chloride, potassium sulfate, industrial chemicals, and specialty plant nutrition products.

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