Asset Management One Co. Ltd. Buys 6,229 Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Posted by on May 2nd, 2023

Asset Management One Co. Ltd. lifted its stake in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM – Get Rating) by 19.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 38,416 shares of the basic materials company’s stock after acquiring an additional 6,229 shares during the period. Asset Management One Co. Ltd.’s holdings in Sociedad Química y Minera de Chile were worth $3,030,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Capital International Investors bought a new stake in shares of Sociedad Química y Minera de Chile during the 1st quarter worth $184,773,000. State Street Corp lifted its stake in Sociedad Química y Minera de Chile by 7.8% in the first quarter. State Street Corp now owns 1,498,233 shares of the basic materials company’s stock worth $128,249,000 after purchasing an additional 108,210 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Sociedad Química y Minera de Chile by 18.9% in the third quarter. Alliancebernstein L.P. now owns 1,495,086 shares of the basic materials company’s stock worth $135,679,000 after purchasing an additional 238,115 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Sociedad Química y Minera de Chile by 63.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,195,008 shares of the basic materials company’s stock worth $99,819,000 after purchasing an additional 466,002 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Sociedad Química y Minera de Chile by 8.0% in the first quarter. Vanguard Group Inc. now owns 938,593 shares of the basic materials company’s stock worth $80,344,000 after purchasing an additional 69,385 shares during the last quarter. 18.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SQM has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Sociedad Química y Minera de Chile from $134.00 to $97.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. StockNews.com cut shares of Sociedad Química y Minera de Chile from a “buy” rating to a “hold” rating in a research report on Tuesday. Scotiabank cut shares of Sociedad Química y Minera de Chile from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $113.00 to $86.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sociedad Química y Minera de Chile from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 20th. Finally, Bank of America upgraded shares of Sociedad Química y Minera de Chile from an “underperform” rating to a “neutral” rating and reduced their price target for the company from $90.00 to $85.00 in a research report on Monday, April 10th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.86.

Sociedad Química y Minera de Chile Trading Down 3.9 %

Shares of NYSE SQM opened at $64.84 on Tuesday. The firm’s 50 day moving average price is $78.57 and its 200-day moving average price is $86.77. The company has a market cap of $18.52 billion, a PE ratio of 4.74, a P/E/G ratio of 0.36 and a beta of 0.95. Sociedad Química y Minera de Chile S.A. has a 52-week low of $60.21 and a 52-week high of $115.76. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.71 and a current ratio of 2.29.

Sociedad Química y Minera de Chile (NYSE:SQM – Get Rating) last issued its earnings results on Thursday, March 2nd. The basic materials company reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.23. The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.17 billion. Sociedad Química y Minera de Chile had a net margin of 36.47% and a return on equity of 95.37%. On average, equities research analysts expect that Sociedad Química y Minera de Chile S.A. will post 12.53 EPS for the current fiscal year.

Sociedad Química y Minera de Chile Company Profile

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Sociedad Quimica y Minera de Chile SA engages in the production and distribution of fertilizers, potassium nitrate, iodine, and lithium chemicals. It operates through the following segments: Specialty Plant Nutrients, Iodine and Derivatives, Lithium and Derivatives, Industrial Chemicals, Potassium, and Other Products and Services.

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Institutional Ownership by Quarter for Sociedad Química y Minera de Chile (NYSE:SQM)

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