Bank of America Corp DE Decreases Stock Holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Bank of America Corp DE trimmed its position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) by 50.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 302,954 shares of the basic materials company's stock after selling 312,067 shares during the quarter. Bank of America Corp DE owned approximately 0.11% of Sociedad Química y Minera de Chile worth $11,015,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SQM. Kestra Investment Management LLC purchased a new position in Sociedad Química y Minera de Chile in the fourth quarter valued at $39,000. Jones Financial Companies Lllp boosted its position in shares of Sociedad Química y Minera de Chile by 803.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,075 shares of the basic materials company's stock worth $39,000 after acquiring an additional 956 shares in the last quarter. R Squared Ltd purchased a new position in shares of Sociedad Química y Minera de Chile in the 4th quarter valued at about $58,000. National Bank of Canada FI acquired a new stake in shares of Sociedad Química y Minera de Chile during the 4th quarter worth about $68,000. Finally, Avior Wealth Management LLC raised its position in shares of Sociedad Química y Minera de Chile by 104.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,128 shares of the basic materials company's stock worth $77,000 after acquiring an additional 1,085 shares in the last quarter. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Sociedad Química y Minera de Chile Stock Performance

Shares of NYSE SQM traded up $0.14 during midday trading on Thursday, reaching $31.47. 1,562,844 shares of the company were exchanged, compared to its average volume of 1,068,593. The stock has a market cap of $8.99 billion, a P/E ratio of -28.35, a PEG ratio of 5.00 and a beta of 1.11. Sociedad Química y Minera de Chile S.A. has a 1 year low of $31.10 and a 1 year high of $48.21. The stock has a fifty day simple moving average of $35.33 and a 200 day simple moving average of $37.93. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74.

Sociedad Química y Minera de Chile (NYSE:SQM - Get Free Report) last announced its earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.15). Sociedad Química y Minera de Chile had a negative net margin of 6.74% and a positive return on equity of 16.12%. The company 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 posted ($3.04) earnings per share. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, research analysts forecast that Sociedad Química y Minera de Chile S.A. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets dropped their price target on shares of Sociedad Química y Minera de Chile from $55.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $42.57.

About Sociedad Química y Minera de Chile

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.