Aberdeen Group plc Lowers Stake in Sociedad Quimica y Minera S.A. $SQM

Key Points

• Aberdeen Group plc significantly reduced its stake in Sociedad Quimica y Minera S.A. by 64.8%, selling 741,456 shares to hold 403,007 shares worth approximately $15.84 million.
• Sociedad Quimica y Minera's recent quarterly earnings reported a loss of $0.15 per share, falling short of the expected $0.63 EPS, with revenue decreasing by 4.4% year-over-year.
• Analysts' ratings for the stock vary, with an average price target of $42.50 and a mix of buy, hold, and sell recommendations noted.

Aberdeen Group plc reduced its stake in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 64.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 403,007 shares of the basic materials company's stock after selling 741,456 shares during the period. Aberdeen Group plc owned about 0.14% of Sociedad Quimica y Minera worth $15,836,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Soros Fund Management LLC bought a new position in Sociedad Quimica y Minera in the 4th quarter worth approximately $5,619,000. Earnest Partners LLC boosted its holdings in Sociedad Quimica y Minera by 1.8% in the 4th quarter. Earnest Partners LLC now owns 1,071,339 shares of the basic materials company's stock worth $38,954,000 after buying an additional 18,748 shares during the period. MGO One Seven LLC bought a new position in Sociedad Quimica y Minera in the 4th quarter worth approximately $642,000. CANADA LIFE ASSURANCE Co boosted its holdings in Sociedad Quimica y Minera by 121.9% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 61,519 shares of the basic materials company's stock worth $2,236,000 after buying an additional 33,797 shares during the period. Finally, White Knight Strategic Wealth Advisors LLC boosted its holdings in Sociedad Quimica y Minera by 86.5% in the 4th quarter. White Knight Strategic Wealth Advisors LLC now owns 34,244 shares of the basic materials company's stock worth $1,245,000 after buying an additional 15,879 shares during the period. 12.41% of the stock is owned by institutional investors.

Sociedad Quimica y Minera Price Performance

Shares of Sociedad Quimica y Minera stock traded up $1.10 on Friday, hitting $46.35. 1,452,320 shares of the company traded hands, compared to its average volume of 1,658,354. The firm's 50-day simple moving average is $38.61 and its 200 day simple moving average is $37.46. The company has a current ratio of 2.88, a quick ratio of 1.96 and a debt-to-equity ratio of 0.71. The company has a market cap of $13.24 billion, a P/E ratio of 27.75 and a beta of 1.03. Sociedad Quimica y Minera S.A. has a 12-month low of $29.36 and a 12-month high of $47.39.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.21). The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.08 billion. Sociedad Quimica y Minera had a net margin of 11.29% and a return on equity of 9.17%. The business's quarterly revenue was down 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. Analysts expect that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SQM. Zacks Research raised shares of Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. BMO Capital Markets raised their price objective on shares of Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday. Scotiabank lowered their target price on shares of Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating on the stock in a research note 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 research note on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Sociedad Quimica y Minera currently has an average rating of "Moderate Buy" and an average price target of $45.40.

Sociedad Quimica y Minera Company 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.