Millennium Management LLC Has $2.80 Million Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Millennium Management LLC reduced its stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) by 83.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,024 shares of the basic materials company's stock after selling 402,089 shares during the period. Millennium Management LLC's holdings in Sociedad Química y Minera de Chile were worth $2,801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SQM. Rakuten Securities Inc. lifted its stake in Sociedad Química y Minera de Chile by 11.2% in the 4th quarter. Rakuten Securities Inc. now owns 4,119 shares of the basic materials company's stock valued at $150,000 after purchasing an additional 415 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Sociedad Química y Minera de Chile by 1.1% in the 4th quarter. Vontobel Holding Ltd. now owns 40,589 shares of the basic materials company's stock valued at $1,476,000 after acquiring an additional 452 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Sociedad Química y Minera de Chile by 18.1% during the 4th quarter. Signaturefd LLC now owns 2,953 shares of the basic materials company's stock valued at $107,000 after acquiring an additional 453 shares in the last quarter. Sigma Planning Corp grew its position in Sociedad Química y Minera de Chile by 4.7% during the 4th quarter. Sigma Planning Corp now owns 13,011 shares of the basic materials company's stock worth $473,000 after acquiring an additional 581 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in Sociedad Química y Minera de Chile by 6.7% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 9,612 shares of the basic materials company's stock worth $349,000 after purchasing an additional 600 shares in the last quarter. 12.41% of the stock is owned by institutional investors.

Sociedad Química y Minera de Chile Trading Up 4.1%

Shares of NYSE SQM traded up $1.25 during trading on Wednesday, reaching $32.07. The company had a trading volume of 1,369,117 shares, compared to its average volume of 1,075,796. The stock has a market cap of $9.16 billion, a P/E ratio of -28.89, a PEG ratio of 5.00 and a beta of 1.04. The company's fifty day moving average price is $34.49 and its 200-day moving average price is $37.73. The company has a quick ratio of 2.05, a current ratio of 2.94 and a debt-to-equity ratio of 0.74. Sociedad Química y Minera de Chile S.A. has a 12 month low of $29.36 and a 12 month high of $47.10.

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 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.15). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. Sociedad Química y Minera de Chile had a negative net margin of 6.74% and a positive return on equity of 16.12%. The business's revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($3.04) earnings per share. As a group, research analysts expect that Sociedad Química y Minera de Chile S.A. will post -1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SQM. BMO Capital Markets cut their price target on 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, May 29th. Scotiabank dropped their price objective on shares of Sociedad Química y Minera de Chile from $50.00 to $45.00 and set a "sector outperform" rating for the company in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Sociedad Química y Minera de Chile has an average rating of "Hold" and a consensus price target of $41.86.

Sociedad Química y Minera de Chile 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.