Sociedad Quimica y Minera S.A. (NYSE:SQM) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM) by 28.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143,401 shares of the basic materials company’s stock after buying an additional 31,846 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Sociedad Quimica y Minera worth $5,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Soros Fund Management LLC acquired a new position in shares of Sociedad Quimica y Minera during the 4th quarter worth $5,619,000. Earnest Partners LLC increased its holdings in Sociedad Quimica y Minera by 1.8% during the 4th quarter. Earnest Partners LLC now owns 1,071,339 shares of the basic materials company’s stock valued at $38,954,000 after acquiring an additional 18,748 shares in the last quarter. MGO One Seven LLC acquired a new position in Sociedad Quimica y Minera during the fourth quarter worth about $642,000. CANADA LIFE ASSURANCE Co raised its position in Sociedad Quimica y Minera by 121.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 61,519 shares of the basic materials company’s stock worth $2,236,000 after acquiring an additional 33,797 shares during the last quarter. Finally, White Knight Strategic Wealth Advisors LLC lifted its holdings in shares of Sociedad Quimica y Minera by 86.5% in the fourth quarter. White Knight Strategic Wealth Advisors LLC now owns 34,244 shares of the basic materials company’s stock valued at $1,245,000 after purchasing an additional 15,879 shares in the last quarter. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Sociedad Quimica y Minera Stock Performance

Shares of SQM opened at $36.73 on Friday. Sociedad Quimica y Minera S.A. has a 1 year low of $29.36 and a 1 year high of $45.89. The company’s 50 day simple moving average is $35.33 and its 200 day simple moving average is $37.14. The company has a market capitalization of $10.49 billion, a price-to-earnings ratio of 17.41 and a beta of 1.07. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.96 and a current ratio of 2.88.

Sociedad Quimica y Minera (NYSE:SQM) last issued its quarterly earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.15). Sociedad Quimica y Minera had a net margin of 13.45% and a return on equity of 11.71%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted ($3.04) earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Sociedad Quimica y Minera from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. increased their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Monday. Finally, Scotiabank cut their price target on Sociedad Quimica y Minera from $50.00 to $45.00 and set a “sector outperform” rating for the company in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.50.

About Sociedad Quimica y Minera

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.