Envestnet Asset Management Inc. Grows Stock Position in Sociedad Quimica y Minera S.A. $SQM

Envestnet Asset Management Inc. lifted its holdings in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM) by 9.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 134,956 shares of the basic materials company’s stock after acquiring an additional 11,103 shares during the period. Envestnet Asset Management Inc.’s holdings in Sociedad Quimica y Minera were worth $5,800,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new stake in Sociedad Quimica y Minera in the 2nd quarter worth approximately $32,432,000. RWC Asset Management LLP raised its holdings in shares of Sociedad Quimica y Minera by 369.9% in the third quarter. RWC Asset Management LLP now owns 1,113,807 shares of the basic materials company’s stock worth $47,871,000 after buying an additional 876,754 shares during the last quarter. RWC Asset Advisors US LLC lifted its stake in shares of Sociedad Quimica y Minera by 112.4% during the third quarter. RWC Asset Advisors US LLC now owns 1,232,662 shares of the basic materials company’s stock worth $52,980,000 after buying an additional 652,257 shares during the period. Kopernik Global Investors LLC grew its holdings in shares of Sociedad Quimica y Minera by 20.9% during the second quarter. Kopernik Global Investors LLC now owns 1,842,113 shares of the basic materials company’s stock valued at $64,971,000 after buying an additional 318,445 shares during the last quarter. Finally, Manning & Napier Advisors LLC increased its position in shares of Sociedad Quimica y Minera by 6.3% in the 3rd quarter. Manning & Napier Advisors LLC now owns 3,168,322 shares of the basic materials company’s stock valued at $140,040,000 after acquiring an additional 187,767 shares during the period. Institutional investors and hedge funds own 12.41% of the company’s stock.

Wall Street Analyst Weigh In

SQM has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Sociedad Quimica y Minera from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Citigroup lowered Sociedad Quimica y Minera from a “buy” rating to a “neutral” rating and upped their target price for the company from $51.00 to $74.00 in a research report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research report on Monday, December 29th. UBS Group set a $79.00 price objective on shares of Sociedad Quimica y Minera in a report on Wednesday, December 17th. Finally, HSBC upgraded shares of Sociedad Quimica y Minera to a “strong-buy” rating in a research note on Monday, January 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.79.

Sociedad Quimica y Minera Price Performance

Shares of NYSE SQM opened at $71.81 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.82 and a quick ratio of 1.88. The stock has a market capitalization of $20.51 billion, a price-to-earnings ratio of 39.24 and a beta of 0.99. The firm’s 50 day simple moving average is $74.15 and its 200-day simple moving average is $57.60. Sociedad Quimica y Minera S.A. has a 12 month low of $29.36 and a 12 month high of $86.13.

Sociedad Quimica y Minera Announces Dividend

The company also recently announced a special dividend, which was paid on Monday, January 5th. Stockholders of record on Tuesday, December 30th were paid a dividend of $0.1236 per share. The ex-dividend date of this dividend was Tuesday, December 30th. Sociedad Quimica y Minera’s dividend payout ratio is presently 6.56%.

Sociedad Quimica y Minera Profile

Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.