LPL Financial LLC Has $3.32 Million Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

LPL Financial LLC increased its holdings in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 44.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,905 shares of the basic materials company’s stock after acquiring an additional 12,564 shares during the period. LPL Financial LLC’s holdings in Sociedad Química y Minera de Chile were worth $3,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. bought a new position in shares of Sociedad Química y Minera de Chile during the 1st quarter worth approximately $346,000. American Century Companies Inc. lifted its holdings in shares of Sociedad Química y Minera de Chile by 48.9% during the first quarter. American Century Companies Inc. now owns 10,730 shares of the basic materials company’s stock valued at $918,000 after acquiring an additional 3,526 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Sociedad Química y Minera de Chile by 17.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,471 shares of the basic materials company’s stock valued at $982,000 after purchasing an additional 1,694 shares in the last quarter. Cibc World Market Inc. grew its holdings in shares of Sociedad Química y Minera de Chile by 44.8% in the 1st quarter. Cibc World Market Inc. now owns 5,814 shares of the basic materials company’s stock worth $498,000 after purchasing an additional 1,799 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Sociedad Química y Minera de Chile by 8.0% during the 1st 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 in the last quarter. Institutional investors own 14.94% of the company’s stock.

Sociedad Química y Minera de Chile Price Performance

Shares of SQM stock opened at $63.20 on Tuesday. The firm has a market cap of $18.05 billion, a price-to-earnings ratio of 5.04, a PEG ratio of 0.39 and a beta of 1.02. Sociedad Química y Minera de Chile S.A. has a 12 month low of $60.21 and a 12 month high of $115.72. The company has a quick ratio of 1.67, a current ratio of 2.39 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $71.20 and a 200 day moving average price of $73.78.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its 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). The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.24 billion. Sociedad Química y Minera de Chile had a net margin of 34.41% and a return on equity of 71.64%. During the same period last year, the business posted $3.01 EPS. Research analysts expect that Sociedad Química y Minera de Chile S.A. will post 11.06 EPS for the current year.

Sociedad Química y Minera de Chile Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Friday, January 1st were given a dividend of $0.5119 per share. This represents a $2.05 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Thursday, July 13th. Sociedad Química y Minera de Chile’s payout ratio is 15.95%.

Analysts Set New Price Targets

Several brokerages have weighed in on SQM. Bank of America decreased their price objective on shares of Sociedad Química y Minera de Chile from $73.00 to $69.00 and set a “neutral” rating on the stock in a research note on Friday, August 18th. The Goldman Sachs Group began coverage on Sociedad Química y Minera de Chile in a research report on Friday, May 19th. They set a “sell” rating and a $60.00 price target on the stock. HSBC cut their price objective on Sociedad Química y Minera de Chile from $134.00 to $90.50 in a research report on Thursday, July 6th. BMO Capital Markets decreased their target price on Sociedad Química y Minera de Chile from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, August 18th. Finally, Scotiabank cut their price target on Sociedad Química y Minera de Chile from $86.00 to $85.00 and set a “sector perform” rating for the company in a report on Monday, August 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.39.

Sociedad Química y Minera de Chile Company Profile

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.