Pacer Advisors Inc. increased its stake in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM – Free Report) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,342 shares of the basic materials company’s stock after buying an additional 790 shares during the quarter. Pacer Advisors Inc.’s holdings in Sociedad Química y Minera de Chile were worth $678,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fortis Capital Advisors LLC bought a new position in shares of Sociedad Química y Minera de Chile during the fourth quarter worth about $26,000. Gradient Investments LLC bought a new position in Sociedad Química y Minera de Chile in the 1st quarter worth about $31,000. Accel Wealth Management bought a new position in Sociedad Química y Minera de Chile in the 1st quarter worth about $32,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Sociedad Química y Minera de Chile in the first quarter valued at approximately $34,000. Finally, Private Trust Co. NA boosted its position in shares of Sociedad Química y Minera de Chile by 103.2% during the first quarter. Private Trust Co. NA now owns 443 shares of the basic materials company’s stock worth $36,000 after buying an additional 225 shares during the period. 14.94% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms recently commented on SQM. Citigroup assumed coverage on Sociedad Química y Minera de Chile in a research report on Tuesday, September 12th. They issued a “buy” rating and a $85.00 target price on the stock. Bank of America lowered their price target on Sociedad Química y Minera de Chile from $73.00 to $69.00 and set a “neutral” rating on the stock in a report on Friday, August 18th. HSBC reduced their price objective on shares of Sociedad Química y Minera de Chile from $134.00 to $90.50 in a report on Thursday, July 6th. StockNews.com began coverage on shares of Sociedad Química y Minera de Chile in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Loop Capital dropped their price target on shares of Sociedad Química y Minera de Chile from $83.00 to $71.00 and set a “hold” rating on the stock in a research report on Monday, August 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $82.61.
Sociedad Química y Minera de Chile Stock Performance
Shares of SQM opened at $59.70 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.39 and a quick ratio of 1.67. The firm’s 50 day moving average is $64.38 and its 200-day moving average is $70.27. Sociedad Química y Minera de Chile S.A. has a 12-month low of $54.28 and a 12-month high of $112.35. The stock has a market capitalization of $17.05 billion, a P/E ratio of 4.76, a P/E/G ratio of 0.34 and a beta of 1.02.
Sociedad Química y Minera de Chile (NYSE:SQM – Get Free Report) last posted its quarterly earnings results on Wednesday, August 16th. The basic materials company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.59). Sociedad Química y Minera de Chile had a return on equity of 71.64% and a net margin of 34.41%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $3.01 EPS. Equities research analysts anticipate that Sociedad Química y Minera de Chile S.A. will post 11.06 EPS for the current fiscal year.
Sociedad Química y Minera de Chile Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Friday, January 1st were issued a dividend of $0.5119 per share. This represents a $2.05 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Thursday, July 13th. Sociedad Química y Minera de Chile’s dividend payout ratio is 16.03%.
About Sociedad Química y Minera de Chile
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.
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