Nuveen LLC Buys Shares of 985,501 Sociedad Quimica y Minera S.A. $SQM

Key Points

• Nuveen LLC has made a new investment of approximately $39.15 million in Sociedad Quimica y Minera S.A. by acquiring 985,501 shares of the company's stock.
• Several hedge funds have also shown interest, with 12.41% of the company now owned by institutional investors and hedge funds.
• Analysts have mixed ratings for the stock, with a consensus rating of "Hold" and an average price target of $42.50, despite recent earnings performance falling short of estimates.

Nuveen LLC bought a new stake in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 985,501 shares of the basic materials company's stock, valued at approximately $39,154,000. Nuveen LLC owned about 0.35% of Sociedad Quimica y Minera as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SQM. US Bancorp DE grew its position in 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 valued at $370,000 after acquiring an additional 526 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of 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 purchasing an additional 821 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Sociedad Quimica y Minera during the first quarter worth approximately $34,000. Laird Norton Wetherby Wealth Management LLC raised its position in Sociedad Quimica y Minera by 10.0% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 11,206 shares of the basic materials company's stock valued at $407,000 after purchasing an additional 1,023 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in Sociedad Quimica y Minera by 55.9% during the 1st 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. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Sociedad Quimica y Minera Price Performance

Shares of SQM traded up $0.4790 on Thursday, reaching $44.8390. The stock had a trading volume of 216,018 shares, compared to its average volume of 1,269,522. Sociedad Quimica y Minera S.A. has a twelve month low of $29.36 and a twelve month high of $47.39. The firm has a market capitalization of $12.81 billion, a PE ratio of 21.24 and a beta of 1.03. The firm has a 50-day moving average of $38.10 and a 200 day moving average 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 (NYSE:SQM - Get Free Report) last posted its earnings results on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.21). The firm had revenue of $1.04 billion during 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%. The firm's revenue for the quarter was down 19.4% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. Sell-side analysts expect that Sociedad Quimica y Minera S.A. will post -1.31 EPS 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.