Banco Santander S.A. Has $735,000 Holdings in Sociedad Quimica y Minera S.A. (NYSE:SQM)

Key Points

• Banco Santander S.A. reduced its holdings in Sociedad Quimica y Minera S.A. by 48.4% in the first quarter, selling 17,329 shares and retaining 18,503 shares, worth $735,000.
• Sociedad Quimica y Minera's latest earnings report showed a quarterly revenue of $1.04 billion, falling short of expectations, and a EPS of $0.48, missing consensus estimates by $0.15.
• Several analysts have downgraded the target price for Sociedad Quimica y Minera, with current estimates now ranging from $41.00 to $45.00, reflecting mixed ratings from research analysts.

Banco Santander S.A. lowered its position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 48.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,503 shares of the basic materials company's stock after selling 17,329 shares during the period. Banco Santander S.A.'s holdings in Sociedad Quimica y Minera were worth $735,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in shares of Sociedad Quimica y Minera in the first quarter valued at about $34,000. Grove Bank & Trust bought a new stake in shares of Sociedad Quimica y Minera during the 1st quarter valued at $46,000. IFP Advisors Inc grew its stake in Sociedad Quimica y Minera by 728.0% during the first quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company's stock worth $49,000 after buying an additional 1,092 shares in the last quarter. CX Institutional bought a new position in Sociedad Quimica y Minera in the first quarter valued at approximately $74,000. Finally, National Bank of Canada FI acquired a new position in Sociedad Quimica y Minera during the fourth quarter valued at approximately $68,000. 12.41% of the stock is owned by institutional investors and hedge funds.

Sociedad Quimica y Minera Trading Up 8.6%

Shares of NYSE:SQM traded up $3.32 during midday trading on Friday, hitting $41.99. 1,838,283 shares of the stock were exchanged, compared to its average volume of 1,229,299. The business's 50-day moving average price is $35.76 and its 200 day moving average price is $37.02. Sociedad Quimica y Minera S.A. has a 12 month low of $29.36 and a 12 month high of $45.89. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.96 and a current ratio of 2.88. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 19.89 and a beta of 1.03.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BMO Capital Markets decreased their price target on Sociedad Quimica y Minera from $55.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Scotiabank decreased their target price on Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating on the stock in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Sociedad Quimica y Minera presently has an average rating of "Hold" and a consensus price target of $42.50.

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.