Northern Trust Corp Has $13.76 Million Stock Position in Sociedad Quimica y Minera S.A. $SQM

Key Points

• Northern Trust Corp increased its stake in Sociedad Quimica y Minera S.A. by 17.9%, owning approximately $13.76 million in shares as of its latest SEC filing.
• Sociedad Quimica y Minera has a current market capitalization of $12.48 billion and reported a revenue decline of 19.4% year-over-year in its latest quarterly earnings.
• Analyst ratings for SQM include two "Buy" ratings and a consensus price target of $43.10, reflecting a mixed outlook for the stock among analysts.

Northern Trust Corp boosted its stake in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 17.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 346,259 shares of the basic materials company's stock after purchasing an additional 52,460 shares during the quarter. Northern Trust Corp owned approximately 0.12% of Sociedad Quimica y Minera worth $13,757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE raised its stake in shares of Sociedad Quimica y Minera by 6.0% in the 1st quarter. US Bancorp DE now owns 9,315 shares of the basic materials company's stock worth $370,000 after buying an additional 526 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Sociedad Quimica y Minera by 61,700.0% during the first quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company's stock worth $25,000 after purchasing an additional 617 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Sociedad Quimica y Minera during the first quarter worth $34,000. Laird Norton Wetherby Wealth Management LLC raised its position in shares of Sociedad Quimica y Minera by 10.0% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 11,206 shares of the basic materials company's stock worth $407,000 after purchasing an additional 1,023 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Sociedad Quimica y Minera by 55.9% during the first quarter. National Bank of Canada FI now owns 2,915 shares of the basic materials company's stock worth $116,000 after purchasing an additional 1,045 shares during the period. Institutional investors and hedge funds own 12.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SQM. JPMorgan Chase & Co. lifted their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Bank of America boosted their target price on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the company an "underperform" rating in a research note on Tuesday, August 26th. BMO Capital Markets raised their price target on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Itau BBA Securities assumed coverage on Sociedad Quimica y Minera in a research report on Thursday, September 4th. They issued an "outperform" rating and a $55.00 price target for the company. Finally, Scotiabank decreased their price target on Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating for the company in a research note on Friday, May 30th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sociedad Quimica y Minera currently has a consensus rating of "Hold" and an average target price of $45.08.

Sociedad Quimica y Minera Price Performance

Shares of Sociedad Quimica y Minera stock traded down $3.32 during midday trading on Tuesday, hitting $42.16. 755,679 shares of the company were exchanged, compared to its average volume of 1,271,906. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.92 and a quick ratio of 1.93. The firm has a market cap of $12.04 billion, a P/E ratio of 25.32 and a beta of 1.06. Sociedad Quimica y Minera S.A. has a 52 week low of $29.36 and a 52 week high of $47.51. The firm has a 50 day simple moving average of $41.17 and a 200-day simple moving average of $37.96.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.21). Sociedad Quimica y Minera had a net margin of 11.29% and a return on equity of 9.09%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business earned $0.75 earnings per share. The company's revenue for the quarter was down 19.4% on a year-over-year basis. Research analysts forecast that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current year.

Sociedad Quimica y Minera Company 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.