Cetera Investment Advisers Acquires 5,873 Shares of Sociedad Quimica y Minera S.A. $SQM

Key Points

• Cetera Investment Advisers increased its position in Sociedad Quimica y Minera S.A. by 51.2%, owning a total of 17,341 shares worth approximately $689,000 as of the latest SEC filing.
• Several institutional investors, including IFP Advisors and Migdal Insurance, significantly boosted their stakes, indicating heightened interest in the company.
• Analysts have mixed views on SQM, with price targets ranging from $39.00 to $55.00 and a consensus rating of "Hold".

Cetera Investment Advisers grew its holdings in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 51.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,341 shares of the basic materials company's stock after purchasing an additional 5,873 shares during the period. Cetera Investment Advisers' holdings in Sociedad Quimica y Minera were worth $689,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Grove Bank & Trust bought a new stake in shares of Sociedad Quimica y Minera during the first quarter worth about $46,000. IFP Advisors Inc increased 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 acquiring an additional 1,092 shares during the period. CX Institutional acquired a new position in shares of Sociedad Quimica y Minera during the first quarter worth $74,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Sociedad Quimica y Minera in the first quarter valued at $96,000. Finally, Greenline Partners LLC bought a new position in Sociedad Quimica y Minera during the 4th quarter worth $102,000. Institutional investors and hedge funds own 12.41% of the company's stock.

Sociedad Quimica y Minera Stock Down 0.8%

SQM stock traded down $0.38 during mid-day trading on Tuesday, reaching $45.75. 219,374 shares of the company traded hands, compared to its average volume of 1,265,871. 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's 50 day moving average price is $37.67 and its 200 day moving average price is $37.27. Sociedad Quimica y Minera S.A. has a fifty-two week low of $29.36 and a fifty-two week high of $47.39. The stock has a market cap of $13.07 billion, a price-to-earnings ratio of 21.71 and a beta of 1.03.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last issued its quarterly 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 analysts' expectations 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 was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($3.04) earnings per share. As a group, equities research analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SQM has been the subject of a number of analyst reports. Scotiabank lowered their price objective on 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 objective on shares of 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. JPMorgan Chase & Co. upped 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, July 28th. Finally, Zacks Research raised Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $42.50.

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.