Allspring Global Investments Holdings LLC Has $27.06 Million Stock Holdings in Sociedad Quimica y Minera S.A. $SQM

Key Points

• Allspring Global Investments Holdings LLC reduced its holdings in Sociedad Quimica y Minera S.A. by 2.3%, owning 768,455 shares valued at approximately $27.06 million as of the end of the most recent quarter.
• The company reported $0.31 earnings per share for the last quarter, falling short of analysts' expectations by $0.21, and experienced a 19.4% revenue decline year-over-year.
• Analyst ratings on Sociedad Quimica y Minera are mixed, with three Buy ratings, four Hold ratings, and two Sell ratings reflecting cautious sentiment among investment analysts.

Allspring Global Investments Holdings LLC cut its position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 768,455 shares of the basic materials company's stock after selling 18,085 shares during the period. Allspring Global Investments Holdings LLC owned 0.27% of Sociedad Quimica y Minera worth $27,057,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP boosted its holdings in Sociedad Quimica y Minera by 4.6% in the 1st quarter. Quantbot Technologies LP now owns 8,339 shares of the basic materials company's stock valued at $331,000 after purchasing an additional 364 shares during the period. US Bancorp DE boosted its holdings in Sociedad Quimica y Minera by 6.0% in the 1st quarter. US Bancorp DE now owns 9,315 shares of the basic materials company's stock valued at $370,000 after purchasing an additional 526 shares during the period. Sprott Inc. boosted its holdings in Sociedad Quimica y Minera by 3.8% in the 1st quarter. Sprott Inc. now owns 14,860 shares of the basic materials company's stock valued at $590,000 after purchasing an additional 548 shares during the period. Farther Finance Advisors LLC boosted its holdings in Sociedad Quimica y Minera by 153.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 969 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 586 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in Sociedad Quimica y Minera by 61,700.0% in the 1st quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 617 shares during the period. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Sociedad Quimica y Minera Stock Performance

Shares of Sociedad Quimica y Minera stock opened at $44.47 on Friday. Sociedad Quimica y Minera S.A. has a fifty-two week low of $29.36 and a fifty-two week high of $47.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.92 and a quick ratio of 1.93. The firm has a market capitalization of $12.70 billion, a P/E ratio of 26.63 and a beta of 1.08. The company's 50 day moving average price is $44.25 and its two-hundred day moving average price is $38.36.

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Zacks Research raised shares of Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. Itau BBA Securities started coverage on shares of Sociedad Quimica y Minera in a report on Thursday, September 4th. They set an "outperform" rating and a $55.00 price target for the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Sociedad Quimica y Minera in a report on Wednesday, October 8th. Finally, Bank of America upped their price target on shares of Sociedad Quimica y Minera from $36.50 to $43.50 and gave the stock an "underperform" rating in a report on Tuesday, August 26th. 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's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $45.79.

About Sociedad Quimica y Minera

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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