Vanguard Group Inc. Acquires 7,302 Shares of Sociedad Quimica y Minera S.A. $SQM

Key Points

• Vanguard Group Inc. has increased its stake in Sociedad Quimica y Minera S.A. by 1.3%, acquiring an additional 7,302 shares, bringing its total holdings to 573,467 shares valued at approximately $22.78 million.
• Multiple hedge funds have made new investments in Sociedad Quimica y Minera, contributing to institutional investors owning 12.41% of the company's stock.
• The company reported a 19.4% decline in revenue year-over-year for the last quarter, earning $0.31 EPS, which fell short of analysts' estimates by $0.21.

Vanguard Group Inc. lifted its holdings in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 573,467 shares of the basic materials company's stock after acquiring an additional 7,302 shares during the period. Vanguard Group Inc. owned approximately 0.20% of Sociedad Quimica y Minera worth $22,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in shares of Sociedad Quimica y Minera in the 1st quarter worth about $34,000. Grove Bank & Trust acquired a new stake in shares of Sociedad Quimica y Minera in the 1st quarter valued at about $46,000. IFP Advisors Inc grew its stake 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 buying an additional 1,092 shares during the period. CX Institutional acquired a new stake in shares of Sociedad Quimica y Minera in the 1st quarter valued at about $74,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Sociedad Quimica y Minera in the 1st quarter valued at about $96,000. 12.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SQM has been the subject of several research reports. Bank of America raised their target price on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the company an "underperform" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Zacks Research upgraded Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Scotiabank reduced their target price on Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating for the company in a research note on Friday, May 30th. Finally, BMO Capital Markets raised their target price on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $43.10.

Sociedad Quimica y Minera Price Performance

Shares of NYSE SQM opened at $45.72 on Friday. Sociedad Quimica y Minera S.A. has a twelve month low of $29.36 and a twelve month high of $47.51. The stock's 50 day moving average price is $39.68 and its 200-day moving average price is $37.68. The company has a market capitalization of $13.06 billion, a PE ratio of 27.38 and a beta of 1.03. The company has a quick ratio of 1.96, a current ratio of 2.92 and a debt-to-equity ratio of 0.70.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last announced its earnings results on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.21). Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the previous year, the firm earned $0.75 EPS. Sociedad Quimica y Minera's quarterly revenue was down 19.4% on a year-over-year basis. On average, equities analysts anticipate 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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