Earnest Partners LLC Purchases 24,710 Shares of Sociedad Quimica y Minera S.A. $SQM

Key Points

• Earnest Partners LLC increased its holdings in Sociedad Quimica y Minera S.A. by 2.3%, owning approximately $43.5 million worth of shares as of the first quarter.
• Sociedad Quimica y Minera reported a 19.4% decline in revenue year-over-year and an earnings per share of $0.31, falling short of analysts' estimates.
• Wall Street analysts have mixed views on the stock, with a consensus rating of "Hold" and an average target price of $43.10.

Earnest Partners LLC boosted its stake in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,096,049 shares of the basic materials company's stock after purchasing an additional 24,710 shares during the period. Earnest Partners LLC owned about 0.38% of Sociedad Quimica y Minera worth $43,546,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. White Knight Strategic Wealth Advisors LLC lifted its position in Sociedad Quimica y Minera by 86.5% during the fourth quarter. White Knight Strategic Wealth Advisors LLC now owns 34,244 shares of the basic materials company's stock valued at $1,245,000 after purchasing an additional 15,879 shares in the last quarter. GAMMA Investing LLC lifted its position in Sociedad Quimica y Minera by 4,834.2% during the first quarter. GAMMA Investing LLC now owns 15,296 shares of the basic materials company's stock valued at $608,000 after purchasing an additional 14,986 shares in the last quarter. CX Institutional purchased a new position in Sociedad Quimica y Minera during the first quarter valued at $74,000. Diversify Advisory Services LLC purchased a new position in Sociedad Quimica y Minera during the first quarter valued at $274,000. Finally, Russell Investments Group Ltd. lifted its position in Sociedad Quimica y Minera by 22.0% during the first quarter. Russell Investments Group Ltd. now owns 384,887 shares of the basic materials company's stock valued at $15,292,000 after purchasing an additional 69,309 shares in the last quarter. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Sociedad Quimica y Minera Price Performance

Shares of SQM stock traded down $0.17 during trading hours on Friday, hitting $45.52. The stock had a trading volume of 1,313,259 shares, compared to its average volume of 1,568,779. Sociedad Quimica y Minera S.A. has a one year low of $29.36 and a one year 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 1.96. The stock's 50-day moving average price is $39.94 and its two-hundred day moving average price is $37.74. The stock has a market capitalization of $13.00 billion, a price-to-earnings ratio of 27.25 and a beta of 1.03.

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 (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.21). Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm posted $0.75 earnings per share. The company's revenue for the quarter was down 19.4% compared to the same quarter last year. Equities analysts forecast that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SQM shares. Bank of America lifted their target price on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the company an "underperform" rating in a research report on Tuesday. Scotiabank lowered their price objective on Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating on the stock in a research report on Friday, May 30th. JPMorgan Chase & Co. boosted their price objective on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. BMO Capital Markets boosted their price objective on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Finally, Zacks Research upgraded Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Sociedad Quimica y Minera currently has an average rating of "Hold" and a consensus target price of $43.10.

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.