Nykredit A S Takes $2.76 Million Position in Sociedad Quimica y Minera S.A. $SQM

Key Points

• Nykredit A/S acquired 37,229 SQM shares during the second quarter, building a position valued at approximately $2.76 million. Institutional investors collectively own 12.41% of the company.
• Sociedad Química y Minera reported strong quarterly results, with earnings of $2.31 per share versus the $2.03 consensus estimate and revenue up 136.7% year over year to $2.47 billion.
• The company declared a special dividend of $1.435 per share. Analyst sentiment improved, but the consensus rating remains “Hold,” with a $79.90 price target compared with the stock’s reported $76.52 opening price.

Nykredit A S acquired a new position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 37,229 shares of the basic materials company's stock, valued at approximately $2,756,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SQM. Sequoia Financial Advisors LLC boosted its stake in Sociedad Quimica y Minera by 5.9% in the first quarter. Sequoia Financial Advisors LLC now owns 3,767 shares of the basic materials company's stock valued at $305,000 after acquiring an additional 210 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Sociedad Quimica y Minera by 43.2% during the first quarter. Parallel Advisors LLC now owns 822 shares of the basic materials company's stock worth $67,000 after purchasing an additional 248 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Sociedad Quimica y Minera by 1.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,363 shares of the basic materials company's stock worth $988,000 after purchasing an additional 257 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Sociedad Quimica y Minera by 59.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 839 shares of the basic materials company's stock valued at $68,000 after purchasing an additional 313 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Sociedad Quimica y Minera by 45.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,122 shares of the basic materials company's stock valued at $77,000 after purchasing an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 12.41% of the company's stock.

Sociedad Quimica y Minera Stock Performance

Shares of SQM opened at $76.52 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.01 and a current ratio of 2.76. The stock has a 50-day moving average of $73.24 and a two-hundred day moving average of $78.22. The stock has a market cap of $21.86 billion, a P/E ratio of 15.78, a P/E/G ratio of 0.26 and a beta of 0.99. Sociedad Quimica y Minera S.A. has a one year low of $40.58 and a one year high of $98.00.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The basic materials company reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.28. Sociedad Quimica y Minera had a return on equity of 19.08% and a net margin of 20.62%.The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company earned $0.79 earnings per share. The company's revenue was up 136.7% on a year-over-year basis. As a group, research analysts predict that Sociedad Quimica y Minera S.A. will post 7.33 EPS for the current year.

Sociedad Quimica y Minera Announces Dividend

The firm also recently declared a special dividend, which will be paid on Monday, September 21st. Investors of record on Tuesday, September 8th will be issued a $1.435 dividend. The ex-dividend date is Tuesday, September 8th. Sociedad Quimica y Minera's dividend payout ratio is 54.64%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings raised Sociedad Quimica y Minera from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Scotiabank boosted their price target on Sociedad Quimica y Minera from $93.00 to $104.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 24th. CLSA upgraded shares of Sociedad Quimica y Minera to an "outperform" rating in a report on Tuesday, June 2nd. Wall Street Zen raised shares of Sociedad Quimica y Minera from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 22nd. Finally, Citigroup upgraded shares of Sociedad Quimica y Minera from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $97.00 to $95.00 in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $79.90.

Sociedad Quimica y Minera Profile

Sociedad Química y Minera de Chile SA NYSE: SQM is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM's product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.

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