Strs Ohio Makes New Investment in Sociedad Quimica y Minera S.A. $SQM

Key Points

• Strs Ohio has acquired a new stake in Sociedad Quimica y Minera S.A. (NYSE: SQM) with a purchase of 184,908 shares valued at approximately $7.35 million, representing 0.06% ownership as of the last quarter.
• In the first quarter, several other institutional investors significantly altered their positions, including a 61,700.0% increase in Brooklyn Investment Group's holdings.
• Analyst ratings for SQM vary, with Scotiabank lowering their target price from $50 to $45, while BMO Capital Markets raised theirs from $45 to $55, reflecting a mixed outlook on the company's stock performance.

Strs Ohio bought a new position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 184,908 shares of the basic materials company's stock, valued at approximately $7,346,000. Strs Ohio owned 0.06% of Sociedad Quimica y Minera at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Everstar Asset Management LLC bought a new position in shares of Sociedad Quimica y Minera during the first quarter worth approximately $429,000. Goldman Sachs Group Inc. increased its stake in Sociedad Quimica y Minera by 53.8% in the first quarter. Goldman Sachs Group Inc. now owns 358,646 shares of the basic materials company's stock valued at $14,249,000 after acquiring an additional 125,506 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in Sociedad Quimica y Minera by 37.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 13,212 shares of the basic materials company's stock valued at $525,000 after acquiring an additional 3,600 shares during the last quarter. BW Gestao de Investimentos Ltda. bought a new position in Sociedad Quimica y Minera in the first quarter valued at approximately $3,178,000. Finally, Royal Bank of Canada increased its stake in Sociedad Quimica y Minera by 18.5% in the first quarter. Royal Bank of Canada now owns 198,789 shares of the basic materials company's stock valued at $7,898,000 after acquiring an additional 31,066 shares during the last quarter. 12.41% of the stock is owned by institutional investors.

Sociedad Quimica y Minera Stock Up 0.8%

Shares of NYSE SQM traded up $0.36 during trading on Friday, hitting $43.48. 675,422 shares of the company traded hands, compared to its average volume of 1,162,585. The business's fifty day moving average is $42.15 and its 200 day moving average is $38.20. Sociedad Quimica y Minera S.A. has a fifty-two week low of $29.36 and a fifty-two week high of $47.51. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 26.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.93 and a current ratio of 2.92.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last announced 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 analyst estimates of $1.08 billion. Sociedad Quimica y Minera had a net margin of 11.29% and a return on equity of 9.09%. Sociedad Quimica y Minera's revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. Equities research analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SQM has been the topic of a number of recent analyst reports. Zacks Research raised shares of Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Itau BBA Securities assumed coverage on shares of Sociedad Quimica y Minera in a research note on Thursday, September 4th. They set an "outperform" rating and a $55.00 target price on the stock. Scotiabank cut their price target on shares of Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating on the stock in a report on Friday, May 30th. BMO Capital Markets lifted 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 report on Thursday, August 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $45.08.

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.