Sociedad Quimica y Minera S.A. $SQM Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc has significantly reduced its stake in Sociedad Quimica y Minera S.A. by 45.4%, owning 220,150 shares worth approximately $7.73 million after selling 182,857 shares in the second quarter.
• Sociedad Quimica y Minera reported earnings of $0.31 EPS, falling short of estimates, and experienced a 19.4% drop in quarterly revenue compared to the previous year.
• Analysts have mixed ratings and price targets for SQM, with a majority giving it a Hold rating and an average target price of $45.79.

Aberdeen Group plc reduced its position in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 45.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,150 shares of the basic materials company's stock after selling 182,857 shares during the period. Aberdeen Group plc owned approximately 0.08% of Sociedad Quimica y Minera worth $7,732,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SQM. GAMMA Investing LLC raised its holdings in shares of Sociedad Quimica y Minera by 4,834.2% during the 1st quarter. GAMMA Investing LLC now owns 15,296 shares of the basic materials company's stock valued at $608,000 after buying an additional 14,986 shares during the period. Grove Bank & Trust bought a new stake in shares of Sociedad Quimica y Minera in the 1st quarter valued at approximately $46,000. Comprehensive Money Management Services LLC bought a new stake in shares of Sociedad Quimica y Minera in the 1st quarter valued at approximately $226,000. TrueMark Investments LLC bought a new position in Sociedad Quimica y Minera during the 1st quarter worth $278,000. Finally, Harbour Capital Advisors LLC bought a new position in Sociedad Quimica y Minera during the 1st quarter worth $674,000. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Sociedad Quimica y Minera Price Performance

Shares of SQM stock opened at $44.47 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.93 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $12.70 billion, a P/E ratio of 26.63 and a beta of 1.08. Sociedad Quimica y Minera S.A. has a 12 month low of $29.36 and a 12 month high of $47.51. The stock has a 50 day moving average of $44.25 and a two-hundred day moving average of $38.36.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted its earnings results on Wednesday, August 20th. The basic materials company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.21). Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business earned $0.75 EPS. Sociedad Quimica y Minera's quarterly revenue was down 19.4% compared to the same quarter last year. As a group, equities analysts expect that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Bank of America upped their target price on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the company an "underperform" rating in a report on Tuesday, August 26th. Itau BBA Securities began coverage on Sociedad Quimica y Minera in a research note on Thursday, September 4th. They issued an "outperform" rating and a $55.00 price objective for the company. Jefferies Financial Group reaffirmed a "hold" rating and issued a $50.00 target price (down from $53.00) on shares of Sociedad Quimica y Minera in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. upped their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.79.

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.

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