Whittier Trust Co. Buys 1,200 Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Whittier Trust Co. lifted its stake in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQMFree Report) by 6,315.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,219 shares of the basic materials company’s stock after purchasing an additional 1,200 shares during the quarter. Whittier Trust Co.’s holdings in Sociedad Química y Minera de Chile were worth $60,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SQM. CWM LLC boosted its holdings in Sociedad Química y Minera de Chile by 40.1% in the first quarter. CWM LLC now owns 790 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 226 shares in the last quarter. Accent Capital Management LLC bought a new position in shares of Sociedad Química y Minera de Chile in the 4th quarter worth $47,000. EverSource Wealth Advisors LLC grew its position in Sociedad Química y Minera de Chile by 133.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 830 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 475 shares during the period. Avior Wealth Management LLC grew its position in Sociedad Química y Minera de Chile by 25.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,253 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 253 shares during the period. Finally, Blue Trust Inc. raised its holdings in Sociedad Química y Minera de Chile by 22.4% during the fourth quarter. Blue Trust Inc. now owns 1,414 shares of the basic materials company’s stock worth $84,000 after buying an additional 259 shares during the last quarter. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Sociedad Química y Minera de Chile Stock Up 0.9 %

SQM stock opened at $40.58 on Wednesday. The stock has a market cap of $11.59 billion, a P/E ratio of 28.94, a P/E/G ratio of 15.67 and a beta of 1.04. The company has a current ratio of 2.34, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. The stock’s fifty day simple moving average is $45.11 and its two-hundred day simple moving average is $46.92. Sociedad Química y Minera de Chile S.A. has a 1-year low of $38.50 and a 1-year high of $81.50.

Sociedad Química y Minera de Chile (NYSE:SQMGet Free Report) last issued its quarterly earnings results on Thursday, May 23rd. The basic materials company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.72) by $2.52. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. Sociedad Química y Minera de Chile had a net margin of 6.25% and a return on equity of 30.74%. Analysts expect that Sociedad Química y Minera de Chile S.A. will post 1.12 EPS for the current year.

Sociedad Química y Minera de Chile Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th were paid a $0.2134 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Thursday, May 9th. Sociedad Química y Minera de Chile’s payout ratio is 41.73%.

Wall Street Analysts Forecast Growth

SQM has been the subject of several recent research reports. Jefferies Financial Group raised shares of Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $62.80 in a research report on Monday, April 8th. The Goldman Sachs Group decreased their price objective on Sociedad Química y Minera de Chile from $54.50 to $46.50 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft raised their target price on Sociedad Química y Minera de Chile from $42.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, May 28th. BMO Capital Markets cut their target price on Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Finally, Bank of America lowered their price target on Sociedad Química y Minera de Chile from $48.00 to $47.00 and set an “underperform” rating for the company in a research report on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.81.

Get Our Latest Research Report on Sociedad Química y Minera de Chile

Sociedad Química y Minera de Chile Company Profile

(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.

Further Reading

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

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