First Hawaiian Bank Boosts Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Posted by on Jul 2nd, 2023

First Hawaiian Bank increased its stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM – Free Report) by 25.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,196 shares of the basic materials company’s stock after buying an additional 1,244 shares during the period. First Hawaiian Bank’s holdings in Sociedad Química y Minera de Chile were worth $502,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SQM. Capital International Investors purchased a new position in Sociedad Química y Minera de Chile in the 1st quarter worth about $184,773,000. Goldman Sachs Group Inc. increased its stake in Sociedad Química y Minera de Chile by 373.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 926,507 shares of the basic materials company’s stock worth $77,391,000 after buying an additional 730,931 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in Sociedad Química y Minera de Chile in the 4th quarter worth about $53,992,000. Ninety One UK Ltd grew its holdings in Sociedad Química y Minera de Chile by 61,196.7% during the 4th quarter. Ninety One UK Ltd now owns 617,258 shares of the basic materials company’s stock worth $49,282,000 after acquiring an additional 616,251 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Sociedad Química y Minera de Chile by 392.1% during the 4th quarter. Deutsche Bank AG now owns 681,908 shares of the basic materials company’s stock worth $54,444,000 after acquiring an additional 543,343 shares in the last quarter. Hedge funds and other institutional investors own 17.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SQM. The Goldman Sachs Group began coverage on shares of Sociedad Química y Minera de Chile in a report on Friday, May 19th. They set a “sell” rating and a $60.00 target price on the stock. Scotiabank cut shares of Sociedad Química y Minera de Chile from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $113.00 to $86.00 in a report on Monday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of Sociedad Química y Minera de Chile from $134.00 to $97.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. BMO Capital Markets dropped their target price on shares of Sociedad Química y Minera de Chile from $130.00 to $105.00 in a report on Wednesday, May 24th. Finally, Deutsche Bank Aktiengesellschaft lowered 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 report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.86.

Sociedad Química y Minera de Chile Stock Up 1.6 %

NYSE:SQM opened at $72.62 on Friday. Sociedad Química y Minera de Chile S.A. has a fifty-two week low of $60.21 and a fifty-two week high of $115.72. The stock has a market capitalization of $20.74 billion, a P/E ratio of 5.37, a P/E/G ratio of 0.39 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 2.48. The company’s 50-day simple moving average is $69.52 and its 200-day simple moving average is $78.88.

Sociedad Química y Minera de Chile (NYSE:SQM – Free Report) last released its earnings results on Thursday, May 18th. The basic materials company reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.49). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.44 billion. Sociedad Química y Minera de Chile had a return on equity of 82.96% and a net margin of 35.24%. On average, equities analysts anticipate that Sociedad Química y Minera de Chile S.A. will post 12.45 earnings per share for the current fiscal year.

Sociedad Química y Minera de Chile Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 11th. Investors of record on Friday, May 12th were paid a $3.2237 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This is a boost from Sociedad Química y Minera de Chile’s previous quarterly dividend of $1.20. This represents a $12.89 dividend on an annualized basis and a yield of 17.76%. Sociedad Química y Minera de Chile’s dividend payout ratio (DPR) is 60.50%.

About Sociedad Química y Minera de Chile

(Free Report)

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers.

See Also

Want to see what other hedge funds are holding SQM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sociedad Química y Minera de Chile S.A. (NYSE:SQM – Free Report).

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

Receive News & Ratings for Sociedad Química y Minera de Chile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sociedad Química y Minera de Chile and related companies with MarketBeat.com's FREE daily email newsletter.