Strs Ohio Takes Position 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 purchased a new stake in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 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.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group increased its holdings in shares of Sociedad Quimica y Minera by 61,700.0% in the 1st quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 617 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of Sociedad Quimica y Minera in the 1st quarter valued at $34,000. Grove Bank & Trust purchased a new position in shares of Sociedad Quimica y Minera in the 1st quarter valued at $46,000. IFP Advisors Inc increased its holdings in shares of Sociedad Quimica y Minera by 728.0% in the 1st quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company's stock valued at $49,000 after acquiring an additional 1,092 shares during the period. Finally, CX Institutional purchased a new position in shares of Sociedad Quimica y Minera in the 1st quarter valued at $74,000. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SQM has been the topic of several research analyst reports. Scotiabank dropped their target price on 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. Zacks Research upgraded Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Bank of America boosted their target price on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the stock an "underperform" rating in a research note on Tuesday, August 26th. Itau BBA Securities assumed coverage on 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. Finally, BMO Capital Markets boosted their target price on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $45.08.

Sociedad Quimica y Minera Stock Performance

Shares of SQM opened at $41.96 on Monday. The stock has a 50-day moving average of $41.60 and a two-hundred day moving average of $38.02. Sociedad Quimica y Minera S.A. has a one year low of $29.36 and a one year high of $47.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.93 and a current ratio of 2.92. The stock has a market cap of $11.98 billion, a P/E ratio of 25.12 and a beta of 1.06.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.21). The company had revenue of $1.04 billion during 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%. The business's quarterly revenue was down 19.4% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. As a group, research analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

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.

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