Lord Abbett & CO. LLC Takes Position in Sociedad Quimica y Minera S.A. $SQM

Key Points

• Lord Abbett & CO. LLC has invested approximately $19.67 million in Sociedad Quimica y Minera S.A., acquiring 495,000 shares of the company during the 1st quarter of the fiscal year.
• The stock price of Sociedad Quimica y Minera (SQM) opened at $45.16, but has seen a 0.8% decline recently, with a market cap of $12.90 billion.
• Despite a reported EPS of $0.48 that fell short of estimates by $0.15, analysts expect the company to maintain a "Hold" rating with an average price target of $42.50.

Lord Abbett & CO. LLC purchased a new stake in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 495,000 shares of the basic materials company's stock, valued at approximately $19,666,000. Lord Abbett & CO. LLC owned approximately 0.17% of Sociedad Quimica y Minera as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in Sociedad Quimica y Minera by 1.0% in the 4th quarter. Wells Fargo & Company MN now owns 79,047 shares of the basic materials company's stock valued at $2,874,000 after acquiring an additional 821 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Sociedad Quimica y Minera by 299.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 95,839 shares of the basic materials company's stock worth $3,485,000 after buying an additional 71,823 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Sociedad Quimica y Minera in the fourth quarter worth approximately $261,000. Marshall Wace LLP grew its holdings in shares of Sociedad Quimica y Minera by 1,416.8% in the fourth quarter. Marshall Wace LLP now owns 141,214 shares of the basic materials company's stock valued at $5,135,000 after acquiring an additional 131,904 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Sociedad Quimica y Minera by 121.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 61,519 shares of the basic materials company's stock valued at $2,236,000 after purchasing an additional 33,797 shares during the period. 12.41% of the stock is currently owned by institutional investors.

Sociedad Quimica y Minera Stock Performance

Sociedad Quimica y Minera stock traded up $0.2770 during mid-day trading on Thursday, hitting $44.6370. 290,520 shares of the company's stock traded hands, compared to its average volume of 1,270,055. The firm has a 50 day moving average price of $38.10 and a 200 day moving average price of $37.38. The company has a quick ratio of 1.96, a current ratio of 2.88 and a debt-to-equity ratio of 0.71. Sociedad Quimica y Minera S.A. has a one year low of $29.36 and a one year high of $47.39. The company has a market cap of $12.75 billion, a PE ratio of 21.17 and a beta of 1.03.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last announced 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). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.08 billion. Sociedad Quimica y Minera had a net margin of 13.45% and a return on equity of 11.71%. Sociedad Quimica y Minera's revenue for the quarter was down 19.4% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. On average, equities analysts forecast that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. 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. BMO Capital Markets decreased their price objective on shares of Sociedad Quimica y Minera from $55.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. JPMorgan Chase & Co. lifted their target price on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, Zacks Research upgraded Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Sociedad Quimica y Minera has a consensus rating of "Moderate Buy" and a consensus price target of $43.40.

Sociedad Quimica y Minera 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.