Point Nemo Capital LLC Purchases 18,177 Shares of Sociedad Quimica y Minera S.A. $SQM

Key Points

• Point Nemo Capital opened a position in Sociedad Química y Minera, buying 18,177 shares valued at approximately $1.18 million in the third quarter.
• Other institutional investors also adjusted or initiated holdings; hedge funds and institutional investors collectively own 12.41% of SQM shares.
• Analyst views were mixed, with a consensus rating of Hold and an average price target of $80.11. SQM also reported quarterly earnings of $2.31 per share, beating estimates of $2.03.

Point Nemo Capital LLC purchased a new position in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,177 shares of the basic materials company's stock, valued at approximately $1,179,000.

Other large investors have also modified their holdings of the company. Ethic Inc. raised its stake in shares of Sociedad Quimica y Minera by 35.6% in the third quarter. Ethic Inc. now owns 3,972 shares of the basic materials company's stock valued at $258,000 after acquiring an additional 1,043 shares in the last quarter. Alps Advisors Inc. grew its stake in Sociedad Quimica y Minera by 0.5% during the 3rd quarter. Alps Advisors Inc. now owns 347,836 shares of the basic materials company's stock worth $22,564,000 after purchasing an additional 1,763 shares in the last quarter. CenterBook Partners LP acquired a new position in Sociedad Quimica y Minera during the 3rd quarter worth $475,000. Kestra Advisory Services LLC grew its stake in Sociedad Quimica y Minera by 43.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 4,226 shares of the basic materials company's stock worth $274,000 after purchasing an additional 1,283 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Sociedad Quimica y Minera by 2.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 25,231 shares of the basic materials company's stock worth $1,637,000 after purchasing an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 12.41% of the company's stock.

Wall Street Analyst Weigh In

SQM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on Sociedad Quimica y Minera from $94.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, October 27th. Weiss Ratings cut Sociedad Quimica y Minera from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, October 12th. JPMorgan Chase & Co. raised Sociedad Quimica y Minera from a "neutral" rating to an "overweight" rating and lowered their price objective for the stock from $88.00 to $71.00 in a research report on Friday. Zacks Research lowered shares of Sociedad Quimica y Minera from a "hold" rating to a "strong sell" rating in a research note on Friday, October 23rd. Finally, Scotiabank raised their target price on shares of Sociedad Quimica y Minera from $93.00 to $104.00 and gave the company a "sector outperform" rating in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $80.11.

Sociedad Quimica y Minera Stock Performance

NYSE:SQM opened at $57.39 on Friday. The firm has a market capitalization of $16.39 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 0.20 and a beta of 1.10. The business's fifty day moving average price is $65.52 and its 200 day moving average price is $74.91. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.61 and a quick ratio of 1.96. Sociedad Quimica y Minera S.A. has a 12 month low of $46.51 and a 12 month high of $98.00.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.24 billion. Sociedad Quimica y Minera had a return on equity of 18.20% and a net margin of 20.62%. Sociedad Quimica y Minera's quarterly revenue was up 136.7% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. On average, sell-side analysts anticipate that Sociedad Quimica y Minera S.A. will post 7.46 earnings per share for the current fiscal year.

Sociedad Quimica y Minera Dividend Announcement

The firm also recently announced a special dividend, which was paid on Monday, September 21st. Stockholders of record on Tuesday, September 8th were given a dividend of $1.4350 per share. The ex-dividend date of this dividend was Tuesday, September 8th. Sociedad Quimica y Minera's dividend payout ratio (DPR) is 34.85%.

Sociedad Quimica y Minera Profile

Sociedad Química y Minera de Chile, known as SQM, is a Chilean mining and chemical company that produces lithium and lithium derivatives, iodine, potassium nitrate, specialty plant nutrients and other industrial chemicals. Its products serve industries including energy storage, agriculture, pharmaceuticals and manufacturing.

The company's operations are centered in northern Chile, including the Atacama Desert, where it extracts minerals and other resources from salt flats and mineral deposits.

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