Wealth Enhancement Advisory Services LLC Purchases 1,346 Shares of Sociedad Quimica y Minera S.A. $SQM

Wealth Enhancement Advisory Services LLC lifted its position in Sociedad Quimica y Minera S.A. (NYSE:SQM) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,140 shares of the basic materials company’s stock after buying an additional 1,346 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Sociedad Quimica y Minera were worth $823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Two Sigma Investments LP acquired a new stake in Sociedad Quimica y Minera during the 4th quarter valued at $843,000. GAMMA Investing LLC lifted its holdings in Sociedad Quimica y Minera by 4,834.2% during the 1st quarter. GAMMA Investing LLC now owns 15,296 shares of the basic materials company’s stock valued at $608,000 after purchasing an additional 14,986 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Sociedad Quimica y Minera during the 1st quarter valued at $201,000. CX Institutional acquired a new stake in Sociedad Quimica y Minera during the 1st quarter valued at $74,000. Finally, Grove Bank & Trust acquired a new stake in Sociedad Quimica y Minera during the 1st quarter valued at $46,000. 12.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SQM. Itau BBA Securities began coverage on Sociedad Quimica y Minera in a report on Thursday, September 4th. They set an “outperform” rating and a $55.00 price target for the company. BMO Capital Markets lifted their target price on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Zacks Research raised Sociedad Quimica y Minera from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. lifted their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Finally, Bank of America lifted their target price on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the stock an “underperform” rating in a report on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sociedad Quimica y Minera presently has a consensus rating of “Hold” and an average price target of $45.08.

Sociedad Quimica y Minera Stock Performance

Sociedad Quimica y Minera stock opened at $44.55 on Friday. Sociedad Quimica y Minera S.A. has a 12-month low of $29.36 and a 12-month high of $47.51. The company has a quick ratio of 1.93, a current ratio of 2.92 and a debt-to-equity ratio of 0.70. The business’s 50-day moving average price is $43.05 and its two-hundred day moving average price is $38.30. The stock has a market cap of $12.72 billion, a PE ratio of 26.67 and a beta of 1.08.

Sociedad Quimica y Minera (NYSE:SQM) last released its earnings results on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.21). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.08 billion. Sociedad Quimica y Minera had a net margin of 11.29% and a return on equity of 9.09%. The business’s revenue was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, analysts expect that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current fiscal year.

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.