19,405 Shares in Sociedad Quimica y Minera S.A. $SQM Purchased by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC acquired a new position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM) in the second quarter, HoldingsChannel reports. The firm acquired 19,405 shares of the basic materials company’s stock, valued at approximately $684,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its position in Sociedad Quimica y Minera by 61,700.0% during the 1st quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 617 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Sociedad Quimica y Minera during the 1st quarter worth about $34,000. Farther Finance Advisors LLC grew its holdings in Sociedad Quimica y Minera by 153.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 969 shares of the basic materials company’s stock valued at $34,000 after buying an additional 586 shares during the period. IFP Advisors Inc grew its holdings in Sociedad Quimica y Minera by 728.0% in the 1st quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company’s stock valued at $49,000 after buying an additional 1,092 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Sociedad Quimica y Minera in the 1st quarter valued at about $96,000. Hedge funds and other institutional investors own 12.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SQM. Weiss Ratings restated a “sell (d+)” rating on shares of Sociedad Quimica y Minera in a report on Wednesday, October 8th. Jefferies Financial Group restated a “hold” rating and issued a $50.00 price target (down previously from $53.00) on shares of Sociedad Quimica y Minera in a report on Monday, October 6th. JPMorgan Chase & Co. lifted their price target on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Itau BBA Securities began coverage on Sociedad Quimica y Minera in a report on Thursday, September 4th. They issued an “outperform” rating and a $55.00 price target for the company. Finally, Zacks Research upgraded Sociedad Quimica y Minera from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Sociedad Quimica y Minera has an average rating of “Hold” and a consensus price target of $45.79.

Sociedad Quimica y Minera Stock Performance

NYSE SQM opened at $42.42 on Wednesday. The firm has a market capitalization of $12.12 billion, a P/E ratio of 25.40 and a beta of 1.08. Sociedad Quimica y Minera S.A. has a 1-year low of $29.36 and a 1-year high of $47.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.92 and a quick ratio of 1.93. The business’s 50-day simple moving average is $44.18 and its 200-day simple moving average is $38.45.

Sociedad Quimica y Minera (NYSE:SQM) last released its quarterly earnings data on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.21). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates 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 for the quarter was down 19.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share. Equities analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

Sociedad Quimica y Minera Company Profile

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.