Sociedad Quimica y Minera S.A. $SQM Shares Sold by RWC Asset Advisors US LLC

Key Points

• RWC Asset Advisors reduced its SQM stake by 7.4% in the second quarter, selling 77,997 shares and retaining 971,447 shares worth approximately $71.9 million. SQM remains 16% of the firm’s portfolio and its second-largest holding.
• Analyst sentiment is mixed: SQM has an average “Hold” rating and a consensus price target of $79.90, while recent targets range from $82 to $104.
• SQM exceeded quarterly expectations, reporting $2.31 EPS and $2.47 billion in revenue, with revenue up 136.7% year over year. The company also declared a special dividend of $1.435 per share.

RWC Asset Advisors US LLC lowered its stake in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 971,447 shares of the basic materials company's stock after selling 77,997 shares during the quarter. Sociedad Quimica y Minera makes up 16.0% of RWC Asset Advisors US LLC's investment portfolio, making the stock its 2nd largest holding. RWC Asset Advisors US LLC owned about 0.34% of Sociedad Quimica y Minera worth $71,926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SQM. Caitong International Asset Management Co. Ltd purchased a new stake in Sociedad Quimica y Minera during the fourth quarter valued at about $29,000. Fulcrum Asset Management LLP purchased a new position in shares of Sociedad Quimica y Minera in the third quarter worth approximately $43,000. Triumph Capital Management purchased a new position in shares of Sociedad Quimica y Minera in the third quarter worth approximately $49,000. Leonteq Securities AG acquired a new stake in shares of Sociedad Quimica y Minera during the fourth quarter valued at approximately $58,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Sociedad Quimica y Minera during the fourth quarter valued at approximately $60,000. Institutional investors and hedge funds own 12.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SQM shares. CLSA raised shares of Sociedad Quimica y Minera to an "outperform" rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. cut their target price on shares of Sociedad Quimica y Minera from $100.00 to $94.00 and set a "neutral" rating on the stock in a research note on Friday, August 28th. Wall Street Zen upgraded Sociedad Quimica y Minera from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 22nd. The Goldman Sachs Group raised their target price on Sociedad Quimica y Minera from $64.00 to $82.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Finally, Scotiabank lifted their price target on Sociedad Quimica y Minera from $93.00 to $104.00 and gave the company a "sector outperform" rating in a report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sociedad Quimica y Minera presently has an average rating of "Hold" and an average target price of $79.90.

Sociedad Quimica y Minera Stock Performance

Shares of SQM opened at $76.52 on Tuesday. The company's 50 day moving average price is $73.37 and its 200 day moving average price is $78.25. Sociedad Quimica y Minera S.A. has a 52 week low of $40.58 and a 52 week high of $98.00. The company has a market capitalization of $21.86 billion, a PE ratio of 15.78, a PEG ratio of 0.26 and a beta of 0.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.01 and a current ratio of 2.76.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last released its earnings results on Friday, August 14th. The basic materials company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.28. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.24 billion. Sociedad Quimica y Minera had a net margin of 20.62% and a return on equity of 19.08%. The company's revenue was up 136.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 EPS. Research analysts expect that Sociedad Quimica y Minera S.A. will post 7.33 EPS for the current fiscal year.

Sociedad Quimica y Minera Announces Dividend

The business also recently declared a special dividend, which will be paid on Monday, September 21st. Stockholders of record on Tuesday, September 8th will be paid a $1.435 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. Sociedad Quimica y Minera's dividend payout ratio is 54.64%.

Sociedad Quimica y Minera Company 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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