Allianz Asset Management GmbH Boosts Stock Position in Sociedad Quimica y Minera S.A. (NYSE:SQM)

Key Points

• Allianz Asset Management GmbH increased its stake in Sociedad Quimica y Minera S.A. by 58.3%, acquiring 70,000 shares during the first quarter, bringing its total holdings to 190,000 shares valued at approximately $7.55 million.
• Shares of Sociedad Quimica y Minera are currently trading at $39.15, down 6.0%, with a market cap of $11.18 billion and a price-to-earnings ratio of 18.55.
• Recent earnings results showed that the company reported $0.48 EPS, missing the consensus estimate of $0.63 by $0.15, with quarterly revenue down 4.4% year-over-year.

Allianz Asset Management GmbH grew its stake in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 58.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,000 shares of the basic materials company's stock after purchasing an additional 70,000 shares during the period. Allianz Asset Management GmbH owned approximately 0.07% of Sociedad Quimica y Minera worth $7,549,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SQM. Grove Bank & Trust acquired a new stake in Sociedad Quimica y Minera during the first quarter worth about $46,000. IFP Advisors Inc boosted its position in shares of Sociedad Quimica y Minera by 728.0% during the 1st quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company's stock worth $49,000 after purchasing an additional 1,092 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Sociedad Quimica y Minera during the 4th quarter valued at about $68,000. CX Institutional purchased a new stake in shares of Sociedad Quimica y Minera during the 1st quarter worth about $74,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Sociedad Quimica y Minera during the 1st quarter valued at approximately $96,000. Institutional investors own 12.41% of the company's stock.

Sociedad Quimica y Minera Stock Performance

Shares of NYSE:SQM traded down $1.01 during mid-day trading on Thursday, reaching $36.36. 412,984 shares of the company traded hands, compared to its average volume of 1,229,057. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.88 and a quick ratio of 1.96. The firm has a market cap of $10.38 billion, a PE ratio of 17.24 and a beta of 1.07. Sociedad Quimica y Minera S.A. has a 52 week low of $29.36 and a 52 week high of $45.89. The company's 50 day moving average price is $35.26 and its 200-day moving average price is $37.16.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last released its earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.15). Sociedad Quimica y Minera had a return on equity of 11.71% and a net margin of 13.45%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the business earned ($3.04) EPS. The business's revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities analysts expect that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on SQM shares. Scotiabank decreased their price objective on Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating for the company in a research report on Friday, May 30th. BMO Capital Markets cut their target price on shares of Sociedad Quimica y Minera from $55.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. increased their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $41.43.

Sociedad Quimica y Minera Company 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.