Sociedad Quimica y Minera S.A. $SQM Shares Sold by Manning & Napier Advisors LLC

Key Points

• Manning & Napier Advisors LLC cut its SQM stake by 30.3% in the fourth quarter, selling 959,226 shares and leaving it with 2.21 million shares worth about $152.4 million.
• Analysts are mixed on Sociedad Quimica y Minera: recent updates included higher price targets and upgraded ratings from some firms, but the overall consensus remains Hold with a target price of $71.42.
• SQM reported quarterly earnings of $0.64 per share on $1.32 billion in revenue and also announced a quarterly dividend of $1.0295 per share, equal to a 4.5% annualized yield.

Manning & Napier Advisors LLC lessened its holdings in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 30.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,209,096 shares of the basic materials company's stock after selling 959,226 shares during the period. Sociedad Quimica y Minera makes up 1.9% of Manning & Napier Advisors LLC's holdings, making the stock its 14th biggest position. Manning & Napier Advisors LLC owned approximately 0.77% of Sociedad Quimica y Minera worth $152,383,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Sociedad Quimica y Minera by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 441 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 256 shares during the period. Fulcrum Asset Management LLP acquired a new stake in shares of Sociedad Quimica y Minera during the 3rd quarter worth approximately $43,000. Signaturefd LLC increased its holdings in shares of Sociedad Quimica y Minera by 37.0% during the 4th quarter. Signaturefd LLC now owns 656 shares of the basic materials company's stock valued at $45,000 after purchasing an additional 177 shares in the last quarter. Triumph Capital Management purchased a new position in shares of Sociedad Quimica y Minera during the 3rd quarter valued at approximately $49,000. Finally, Advisory Services Network LLC acquired a new position in shares of Sociedad Quimica y Minera in the 3rd quarter valued at $62,000. 12.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Sociedad Quimica y Minera from $88.00 to $91.00 and gave the company a "buy" rating in a research report on Wednesday, January 21st. Bank of America increased their price target on Sociedad Quimica y Minera from $49.00 to $53.00 and gave the stock an "underperform" rating in a research report on Wednesday, March 25th. Wall Street Zen raised Sociedad Quimica y Minera from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. BMO Capital Markets restated an "outperform" rating on shares of Sociedad Quimica y Minera in a research report on Wednesday, March 4th. Finally, HSBC raised Sociedad Quimica y Minera to a "strong-buy" rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $71.42.

Sociedad Quimica y Minera Stock Down 0.3%

Shares of NYSE:SQM opened at $91.35 on Friday. Sociedad Quimica y Minera S.A. has a 52-week low of $29.36 and a 52-week high of $98.00. The stock has a market cap of $26.10 billion, a P/E ratio of 44.56, a PEG ratio of 0.26 and a beta of 1.00. The business has a fifty day moving average of $81.58 and a two-hundred day moving average of $71.36.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The basic materials company reported $0.64 earnings per share for the quarter. The company had revenue of $1.32 billion during the quarter. Sociedad Quimica y Minera had a return on equity of 9.69% and a net margin of 12.85%. On average, equities analysts anticipate that Sociedad Quimica y Minera S.A. will post 7.3 earnings per share for the current year.

Sociedad Quimica y Minera Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 8th will be given a dividend of $1.0295 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 8th. Sociedad Quimica y Minera's dividend payout ratio is currently 5.85%.

Sociedad Quimica y Minera Profile

Sociedad Química y Minera de Chile SA NYSE: SQM is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM's product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.

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