Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Sociedad Quimica y Minera S.A. (NYSE:SQM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 143,401 shares of the basic materials company's stock after buying an additional 31,846 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Sociedad Quimica y Minera worth $5,697,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Cetera Investment Advisers grew its position in Sociedad Quimica y Minera by 51.2% in the 1st quarter. Cetera Investment Advisers now owns 17,341 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 5,873 shares during the period. Allianz Asset Management GmbH grew its position in Sociedad Quimica y Minera by 58.3% in the 1st quarter. Allianz Asset Management GmbH now owns 190,000 shares of the basic materials company's stock valued at $7,549,000 after purchasing an additional 70,000 shares during the period. IFP Advisors Inc grew its position in Sociedad Quimica y Minera by 728.0% in the 1st 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. Diversify Advisory Services LLC acquired a new stake in Sociedad Quimica y Minera in the 1st quarter valued at $274,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Sociedad Quimica y Minera in the 1st quarter valued at $96,000. Institutional investors and hedge funds own 12.41% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SQM. Scotiabank reduced their price target on shares of Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating for the company in a research report on Friday, May 30th. BMO Capital Markets reduced their price target on shares of Sociedad Quimica y Minera from $55.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Sociedad Quimica y Minera presently has a consensus rating of "Hold" and an average target price of $42.50.

Sociedad Quimica y Minera Stock Performance

Shares of NYSE SQM traded down $0.95 during mid-day trading on Friday, reaching $35.80. 865,948 shares of the company's stock were exchanged, compared to its average volume of 1,856,028. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 16.97 and a beta of 1.03. Sociedad Quimica y Minera S.A. has a 52 week low of $29.36 and a 52 week high of $45.89. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.88 and a quick ratio of 1.96. The firm has a 50-day moving average price of $35.39 and a two-hundred day moving average price of $37.11.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last released its earnings results on Wednesday, May 28th. The basic materials company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.15). The business had revenue of $1.04 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($3.04) earnings per share. Analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

About Sociedad Quimica y Minera

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.