Allianz Asset Management GmbH Sells 20,000 Shares of Sociedad Quimica y Minera S.A. $SQM

Key Points

• Allianz Asset Management GmbH reduced its stake in Sociedad Quimica y Minera S.A. by 10.5%, selling 20,000 shares during the second quarter, now holding 170,000 shares worth approximately $5.996 million.
• Sociedad Quimica y Minera reported a quarterly earnings miss with earnings per share of $0.31, falling short of the expected $0.52 and also experiencing a 19.4% revenue decline compared to last year.
• Analysts have varying outlooks for the company, with price targets ranging from $36.50 to $55.00, resulting in a consensus rating of "Hold".

Allianz Asset Management GmbH lowered its stake in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 10.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,000 shares of the basic materials company's stock after selling 20,000 shares during the period. Allianz Asset Management GmbH owned 0.06% of Sociedad Quimica y Minera worth $5,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SQM. Kingstone Capital Partners Texas LLC bought a new stake in shares of Sociedad Quimica y Minera during the second quarter valued at approximately $67,759,000. Nuveen LLC bought a new stake in shares of Sociedad Quimica y Minera during the first quarter valued at approximately $39,154,000. RWC Asset Advisors US LLC bought a new stake in shares of Sociedad Quimica y Minera during the first quarter valued at approximately $37,170,000. Lord Abbett & CO. LLC bought a new stake in shares of Sociedad Quimica y Minera during the first quarter valued at approximately $19,666,000. Finally, RWC Asset Management LLP bought a new stake in shares of Sociedad Quimica y Minera during the first quarter valued at approximately $10,213,000. Institutional investors own 12.41% of the company's stock.

Sociedad Quimica y Minera Stock Down 0.1%

NYSE SQM opened at $42.35 on Thursday. The company has a quick ratio of 1.93, a current ratio of 2.92 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average of $44.10 and a two-hundred day moving average of $38.48. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 25.36 and a beta of 1.08. Sociedad Quimica y Minera S.A. has a 52 week low of $29.36 and a 52 week high of $47.51.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The basic materials company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.21). The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.08 billion. Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.The firm's quarterly revenue was down 19.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. On average, analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SQM. Bank of America lifted their price objective on shares of Sociedad Quimica y Minera from $36.50 to $43.50 and gave the company an "underperform" rating in a research report on Tuesday, August 26th. BMO Capital Markets boosted their price target on shares of Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. boosted their price target on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Weiss Ratings restated a "sell (d+)" rating on shares of Sociedad Quimica y Minera in a research report on Wednesday, October 8th. Finally, Itau BBA Securities assumed coverage on shares of Sociedad Quimica y Minera in a research report on Thursday, September 4th. They issued an "outperform" rating and a $55.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $45.79.

Sociedad Quimica y Minera 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.

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