Allspring Global Investments Holdings LLC Trims Holdings in Sociedad Quimica y Minera S.A. (NYSE:SQM)

Allspring Global Investments Holdings LLC lowered its stake in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 786,540 shares of the basic materials company's stock after selling 78,660 shares during the period. Allspring Global Investments Holdings LLC owned 0.28% of Sociedad Quimica y Minera worth $31,501,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in Sociedad Quimica y Minera by 803.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,075 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 956 shares in the last quarter. Grove Bank & Trust bought a new stake in Sociedad Quimica y Minera in the 1st quarter worth $46,000. National Bank of Canada FI bought a new position in shares of Sociedad Quimica y Minera during the fourth quarter valued at approximately $68,000. CX Institutional bought a new stake in shares of Sociedad Quimica y Minera during the 1st quarter valued at about $74,000. Finally, Greenline Partners LLC purchased a new position in shares of Sociedad Quimica y Minera during the 4th quarter worth approximately $102,000. Hedge funds and other institutional investors own 12.41% of the company's stock.

Sociedad Quimica y Minera Stock Performance

Sociedad Quimica y Minera stock traded down $0.37 during midday trading on Friday, reaching $37.08. 921,189 shares of the company traded hands, compared to its average volume of 1,087,028. Sociedad Quimica y Minera S.A. has a 12 month low of $29.36 and a 12 month high of $45.89. 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 business has a 50 day moving average of $33.81 and a two-hundred day moving average of $37.02. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 17.57 and a beta of 1.07.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share (EPS) 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 firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter last year, the business earned ($3.04) earnings per share. The business's quarterly revenue was down 4.4% on a year-over-year basis. As a group, research analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on SQM. JPMorgan Chase & Co. cut their price target on Sociedad Quimica y Minera from $44.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, June 12th. BMO Capital Markets cut their price objective 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, Scotiabank decreased their target price on shares of Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating for the company in a report on Friday, May 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $41.14.

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.