RWC Asset Advisors US LLC Purchases New Position in Sociedad Quimica y Minera S.A. (NYSE:SQM)

Key Points

• RWC Asset Advisors US LLC has invested approximately $37.17 million in Sociedad Quimica y Minera S.A. (NYSE:SQM), acquiring 935,557 shares, which represents about 6.8% of their portfolio.
• Analyst ratings for SQM have been mixed, with target prices revised down by multiple firms; currently, the stock has a consensus rating of "Hold" and a target price of $41.14.
• Sociedad Quimica y Minera reported a $0.48 EPS for the last quarter, which fell short of analyst estimates by $0.15, and experienced a 4.4% decline in quarterly revenue year-over-year.

RWC Asset Advisors US LLC acquired a new stake in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 935,557 shares of the basic materials company's stock, valued at approximately $37,170,000. Sociedad Quimica y Minera makes up about 6.8% of RWC Asset Advisors US LLC's investment portfolio, making the stock its 7th largest holding. RWC Asset Advisors US LLC owned 0.33% of Sociedad Quimica y Minera at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new position in Sociedad Quimica y Minera in the fourth quarter worth approximately $393,000. Raymond James Financial Inc. acquired a new stake in shares of Sociedad Quimica y Minera during the 4th quarter worth about $261,000. Corient Private Wealth LLC increased its position in shares of Sociedad Quimica y Minera by 55.6% during the 4th quarter. Corient Private Wealth LLC now owns 15,311 shares of the basic materials company's stock worth $557,000 after purchasing an additional 5,473 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Sociedad Quimica y Minera in the 4th quarter valued at about $290,000. Finally, American Century Companies Inc. raised its holdings in Sociedad Quimica y Minera by 8.8% in the 4th quarter. American Century Companies Inc. now owns 101,561 shares of the basic materials company's stock valued at $3,693,000 after buying an additional 8,240 shares during the period. 12.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SQM. Scotiabank reduced their price objective on shares of Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating on the stock in a report on Friday, May 30th. JPMorgan Chase & Co. boosted 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 report on Monday. Finally, BMO Capital Markets reduced their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $41.43.

Sociedad Quimica y Minera Trading Down 6.0%

NYSE SQM traded down $2.50 during trading on Monday, hitting $39.15. The stock had a trading volume of 2,336,677 shares, compared to its average volume of 1,770,171. The company has a market capitalization of $11.18 billion, a PE ratio of 19.74 and a beta of 1.07. The company has a quick ratio of 1.96, a current ratio of 2.88 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average price of $35.10 and a 200 day moving average price of $37.15. Sociedad Quimica y Minera S.A. has a twelve month low of $29.36 and a twelve month high of $45.89.

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