Bank of America Corp DE Has $45.19 Million Holdings in Sociedad Quimica y Minera S.A. $SQM

Key Points

• Bank of America reduced its SQM position by 16.6% during the first quarter, selling 110,835 shares and retaining 558,353 shares valued at approximately $45.19 million. Institutional investors and hedge funds collectively own 12.41% of the company.
• Analyst sentiment remains mixed, with MarketBeat reporting a consensus “Hold” rating and an average price target of $73.58. Recent actions included rating upgrades from CLSA and downgrades or target-price cuts from Deutsche Bank, JPMorgan, and Scotiabank.
• SQM shares opened at $71.39 after declining 1.1%, while the company reported quarterly earnings of $1.28 per share on $1.76 billion in revenue. Analysts expect full-year earnings of approximately $7.45 per share.

Bank of America Corp DE lessened its position in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 558,353 shares of the basic materials company's stock after selling 110,835 shares during the quarter. Bank of America Corp DE owned approximately 0.20% of Sociedad Quimica y Minera worth $45,193,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in Sociedad Quimica y Minera by 7,083.3% during the 4th quarter. Legal & General Group Plc now owns 289,701 shares of the basic materials company's stock worth $19,931,000 after buying an additional 285,668 shares during the period. Vanguard Group Inc. boosted its position in Sociedad Quimica y Minera by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 649,528 shares of the basic materials company's stock valued at $44,688,000 after buying an additional 27,035 shares during the last quarter. Premier Fund Managers Ltd acquired a new stake in shares of Sociedad Quimica y Minera during the fourth quarter valued at about $9,801,000. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Sociedad Quimica y Minera during the fourth quarter valued at about $19,488,000. Finally, UBS Group AG increased its position in shares of Sociedad Quimica y Minera by 6.9% during the fourth quarter. UBS Group AG now owns 420,262 shares of the basic materials company's stock worth $28,914,000 after acquiring an additional 27,230 shares during the last quarter. Institutional investors and hedge funds own 12.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SQM shares. Deutsche Bank Aktiengesellschaft cut their price target on Sociedad Quimica y Minera from $105.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. CLSA upgraded Sociedad Quimica y Minera to an "outperform" rating in a report on Tuesday, June 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Sociedad Quimica y Minera in a research report on Wednesday, June 24th. JPMorgan Chase & Co. cut Sociedad Quimica y Minera from an "overweight" rating to a "neutral" rating and increased their target price for the company from $94.00 to $100.00 in a research note on Tuesday, June 2nd. Finally, Scotiabank decreased their price target on shares of Sociedad Quimica y Minera from $105.00 to $93.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $73.58.

Sociedad Quimica y Minera Trading Down 1.1%

Shares of NYSE SQM opened at $71.39 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average price is $73.15 and its two-hundred day moving average price is $77.98. Sociedad Quimica y Minera S.A. has a 52-week low of $40.58 and a 52-week high of $98.00. The stock has a market capitalization of $20.39 billion, a P/E ratio of 25.05, a PEG ratio of 0.20 and a beta of 0.98.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last issued its quarterly earnings results on Saturday, May 16th. The basic materials company reported $1.28 earnings per share for the quarter. The business had revenue of $1.76 billion during the quarter. Sociedad Quimica y Minera had a return on equity of 11.99% and a net margin of 15.38%. On average, analysts anticipate that Sociedad Quimica y Minera S.A. will post 7.45 earnings per share for the current fiscal year.

Sociedad Quimica y Minera Profile

Sociedad Química y Minera de Chile SA NYSE: SQM is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM's product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.

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