Pictet Asset Management Holding SA Makes New Investment in Sociedad Quimica y Minera S.A. $SQM

Key Points

• Pictet Asset Management bought a new position of 28,314 shares of Sociedad Quimica y Minera (SQM) in Q4, valued at about $1.95 million, and several other institutional investors also added or increased stakes as institutional ownership sits at 12.41%.
• SQM announced a quarterly dividend of $1.0295 payable May 26 (ex-dividend May 8), which annualizes to $4.12 and represents a 4.6% dividend yield.
• Shares trade around $89.72 (market cap ~$25.6B, P/E ~43.8), while analyst consensus is a "Hold" with an average price target of $71.42, below the current share price.

Pictet Asset Management Holding SA purchased a new position in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,314 shares of the basic materials company's stock, valued at approximately $1,948,000.

Other hedge funds have also added to or reduced their stakes in the company. Boston Common Asset Management LLC purchased a new position in shares of Sociedad Quimica y Minera in the third quarter worth about $2,767,000. Robeco Institutional Asset Management B.V. grew its holdings in Sociedad Quimica y Minera by 33.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 71,429 shares of the basic materials company's stock valued at $3,070,000 after buying an additional 17,869 shares in the last quarter. AIA Group Ltd purchased a new stake in Sociedad Quimica y Minera in the 3rd quarter valued at $1,633,000. Peregrine Investment Management Inc. grew its holdings in Sociedad Quimica y Minera by 58.6% in the 3rd quarter. Peregrine Investment Management Inc. now owns 219,150 shares of the basic materials company's stock valued at $9,419,000 after buying an additional 80,970 shares in the last quarter. Finally, Liontrust Investment Partners LLP purchased a new stake in Sociedad Quimica y Minera in the 3rd quarter valued at $559,000. 12.41% of the stock is owned by institutional investors.

Sociedad Quimica y Minera Price Performance

Shares of Sociedad Quimica y Minera stock opened at $89.72 on Tuesday. The stock has a market capitalization of $25.63 billion, a price-to-earnings ratio of 43.77, a price-to-earnings-growth ratio of 0.28 and a beta of 1.00. The business has a 50-day moving average of $80.45 and a 200 day moving average of $70.35. Sociedad Quimica y Minera S.A. has a 12 month low of $29.36 and a 12 month high of $95.46.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter. The company had revenue of $1.32 billion for the quarter. Sociedad Quimica y Minera had a return on equity of 9.69% and a net margin of 12.85%. Equities research analysts anticipate that Sociedad Quimica y Minera S.A. will post 6.74 earnings per share for the current year.

Sociedad Quimica y Minera Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 8th will be given a dividend of $1.0295 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, May 8th. Sociedad Quimica y Minera's dividend payout ratio (DPR) is 5.85%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SQM. HSBC upgraded Sociedad Quimica y Minera to a "strong-buy" rating in a report on Monday, January 19th. Zacks Research cut Sociedad Quimica y Minera from a "strong-buy" rating to a "hold" rating in a report on Monday, March 23rd. Scotiabank increased their price target on Sociedad Quimica y Minera from $90.00 to $100.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 4th. Clarkson Capital reiterated a "neutral" rating and set a $90.00 price target on shares of Sociedad Quimica y Minera in a report on Thursday, January 22nd. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Sociedad Quimica y Minera in a report on Wednesday, March 4th. One investment 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.com, the stock presently has an average rating of "Hold" and an average price target of $71.42.

Sociedad Quimica y Minera Company 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.

Want to see what other hedge funds are holding SQM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.