Allspring Global Investments Holdings LLC Reduces Stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Allspring Global Investments Holdings LLC lowered its holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM – Get Rating) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 107,102 shares of the basic materials company’s stock after selling 7,108 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Sociedad Química y Minera de Chile were worth $9,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SQM. Capital International Investors purchased a new position in shares of Sociedad Química y Minera de Chile in the 1st quarter valued at approximately $184,773,000. Renaissance Technologies LLC lifted its stake in shares of Sociedad Química y Minera de Chile by 314.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,258,000 shares of the basic materials company’s stock valued at $105,081,000 after purchasing an additional 954,100 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of 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 valued at $77,391,000 after purchasing an additional 730,931 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of Sociedad Química y Minera de Chile by 59.8% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,269,678 shares of the basic materials company’s stock valued at $106,056,000 after purchasing an additional 475,285 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Sociedad Química y Minera de Chile by 63.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,195,008 shares of the basic materials company’s stock valued at $99,819,000 after purchasing an additional 466,002 shares during the period. Hedge funds and other institutional investors own 18.42% of the company’s stock.

Sociedad Química y Minera de Chile Stock Performance

Shares of SQM opened at $83.67 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.12 and a quick ratio of 1.61. Sociedad Química y Minera de Chile S.A. has a one year low of $49.80 and a one year high of $115.76. The firm has a market capitalization of $23.90 billion, a P/E ratio of 7.76, a PEG ratio of 0.35 and a beta of 0.90. The business has a fifty day moving average of $90.40 and a 200 day moving average of $93.56.

Sociedad Química y Minera de Chile (NYSE:SQM – Get Rating) last issued its quarterly earnings data on Wednesday, November 16th. The basic materials company reported $3.85 EPS for the quarter, topping the consensus estimate of $3.40 by $0.45. Sociedad Química y Minera de Chile had a return on equity of 83.91% and a net margin of 35.53%. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.83 billion. As a group, sell-side analysts anticipate that Sociedad Química y Minera de Chile S.A. will post 13.4 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com upgraded Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating in a research note on Saturday, November 19th. Citigroup cut Sociedad Química y Minera de Chile from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $112.00 to $92.00 in a research note on Thursday, December 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on Sociedad Química y Minera de Chile from $125.00 to $95.00 in a research note on Tuesday. Finally, BMO Capital Markets lifted their price objective on Sociedad Química y Minera de Chile from $125.00 to $130.00 in a research note on Friday, September 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $96.67.

Sociedad Química y Minera de Chile Profile

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Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its 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.