Prudential PLC Sells 35,089 Shares of Sociedad Quimica y Minera S.A. (NYSE:SQM)

Key Points

• Prudential PLC has reduced its stake in Sociedad Quimica y Minera S.A. by 5.7%, selling 35,089 shares and now owning approximately 0.20% of the company valued at $23.14 million.
• Institutional investors are actively changing their holdings in Sociedad Quimica y Minera, with firms like Nuveen LLC and RWC Asset Advisors US LLC acquiring new positions during the first quarter.
• Wall Street analysts have mixed opinions on Sociedad Quimica y Minera, with price targets lowered by BMO Capital Markets and Scotiabank, while JPMorgan Chase & Co. has set a higher target, reflecting a general consensus rating of "Hold".

Prudential PLC decreased its position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 582,496 shares of the basic materials company's stock after selling 35,089 shares during the period. Prudential PLC owned about 0.20% of Sociedad Quimica y Minera worth $23,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Nuveen LLC acquired a new position in shares of Sociedad Quimica y Minera in the 1st quarter valued at $39,154,000. Nuveen Asset Management LLC acquired a new position in shares of Sociedad Quimica y Minera during the 4th quarter worth about $35,832,000. RWC Asset Advisors US LLC acquired a new position in Sociedad Quimica y Minera during the first quarter valued at approximately $37,170,000. RWC Asset Management LLP bought a new position in shares of Sociedad Quimica y Minera in the first quarter valued at $10,213,000. Finally, Northern Trust Corp lifted its stake in Sociedad Quimica y Minera by 367.9% in the fourth quarter. Northern Trust Corp now owns 293,799 shares of the basic materials company's stock valued at $10,683,000 after acquiring an additional 231,010 shares during the last quarter. 12.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SQM shares. BMO Capital Markets decreased 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 lowered 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 report on Friday, May 30th. Finally, JPMorgan Chase & Co. increased 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 note on Monday, July 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $42.50.

Sociedad Quimica y Minera Stock Performance

SQM stock opened at $45.90 on Tuesday. Sociedad Quimica y Minera S.A. has a 1-year low of $29.36 and a 1-year high of $47.39. The company has a current ratio of 2.88, a quick ratio of 1.96 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average price of $36.32 and a 200-day moving average price of $37.06. The firm has a market cap of $13.11 billion, a PE ratio of 21.75 and a beta of 1.03.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.15). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. Sociedad Quimica y Minera had a return on equity of 11.71% and a net margin of 13.45%. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($3.04) earnings per share. As a group, equities research analysts expect that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current year.

Sociedad Quimica y Minera 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.

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