RWC Asset Management LLP Takes $10.21 Million Position in Sociedad Quimica y Minera S.A. (NYSE:SQM)

Key Points

• RWC Asset Management LLP acquired 257,050 shares of Sociedad Quimica y Minera S.A. (NYSE:SQM) in Q1, valued at approximately $10.2 million, increasing its stake to about 0.09% of the company.
• Multiple hedge funds, including Grantham Mayo Van Otterloo & Co. LLC and Lazard Asset Management LLC, have also adjusted their positions in Sociedad Quimica y Minera, showcasing increased institutional interest in the company.
• Analysts have lowered their price targets for Sociedad Quimica y Minera, with JPMorgan now setting it at $39.00, indicating a cautious outlook despite multiple "buy" ratings.

RWC Asset Management LLP purchased a new stake in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 257,050 shares of the basic materials company's stock, valued at approximately $10,213,000. RWC Asset Management LLP owned about 0.09% of Sociedad Quimica y Minera as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Grove Bank & Trust purchased a new position in Sociedad Quimica y Minera in the first quarter valued at $46,000. IFP Advisors Inc boosted its holdings in Sociedad Quimica y Minera by 728.0% in the first quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 1,092 shares during the period. National Bank of Canada FI purchased a new position in Sociedad Quimica y Minera in the fourth quarter valued at $68,000. CX Institutional purchased a new position in Sociedad Quimica y Minera in the first quarter valued at $74,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Sociedad Quimica y Minera in the first quarter valued at $96,000. Institutional investors and hedge funds own 12.41% of the company's stock.

Sociedad Quimica y Minera Stock Performance

SQM stock traded down $2.50 during midday trading on Monday, reaching $39.15. The company had a trading volume of 2,336,677 shares, compared to its average volume of 1,770,171. 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 stock 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 fifty-two week low of $29.36 and a fifty-two week high of $45.89. The firm has a market capitalization of $11.18 billion, a PE ratio of 18.55 and a beta of 1.07.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last issued 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). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. Sociedad Quimica y Minera had a return on equity of 11.71% and a net margin of 13.45%. The business's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($3.04) earnings per share. Analysts anticipate that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SQM. BMO Capital Markets decreased their price target on Sociedad Quimica y Minera from $55.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Scotiabank reduced their target price 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. boosted their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Monday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $41.43.

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.