Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM – Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 9,641 shares of the basic materials company’s stock, valued at approximately $625,000.
Several other large investors have also modified their holdings of the stock. Unison Advisors LLC grew its holdings in Sociedad Quimica y Minera by 1.0% in the third quarter. Unison Advisors LLC now owns 63,100 shares of the basic materials company’s stock valued at $4,093,000 after purchasing an additional 600 shares during the period. MGO One Seven LLC raised its stake in Sociedad Quimica y Minera by 4.0% during the third quarter. MGO One Seven LLC now owns 6,332 shares of the basic materials company’s stock worth $411,000 after purchasing an additional 241 shares during the period. Eagle Rock Investment Company LLC raised its stake in Sociedad Quimica y Minera by 10.4% during the third quarter. Eagle Rock Investment Company LLC now owns 5,906 shares of the basic materials company’s stock worth $383,000 after purchasing an additional 555 shares during the period. Crossmark Global Holdings Inc. raised its stake in Sociedad Quimica y Minera by 21.3% during the third quarter. Crossmark Global Holdings Inc. now owns 20,397 shares of the basic materials company’s stock worth $1,323,000 after purchasing an additional 3,586 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Sociedad Quimica y Minera by 35.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,337,746 shares of the basic materials company’s stock valued at $86,780,000 after purchasing an additional 350,573 shares during the last quarter. 12.41% of the stock is currently owned by hedge funds and other institutional investors.
Sociedad Quimica y Minera Stock Down 0.2%
SQM opened at $57.39 on Monday. Sociedad Quimica y Minera S.A. has a 1 year low of $46.51 and a 1 year high of $98.00. The firm has a 50 day moving average price of $65.52 and a 200 day moving average price of $74.91. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.96 and a current ratio of 2.61. The company has a market cap of $16.39 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 0.20 and a beta of 1.10.
Sociedad Quimica y Minera (NYSE:SQM – Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The basic materials company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.28. Sociedad Quimica y Minera had a net margin of 20.62% and a return on equity of 18.20%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the company posted $0.79 earnings per share. Sociedad Quimica y Minera’s revenue was up 136.7% compared to the same quarter last year. Sell-side analysts expect that Sociedad Quimica y Minera S.A. will post 7.46 earnings per share for the current year.
Sociedad Quimica y Minera Announces Dividend
The firm also recently announced a special dividend, which was paid on Monday, September 21st. Stockholders of record on Tuesday, September 8th were paid a $1.4350 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. Sociedad Quimica y Minera’s dividend payout ratio (DPR) is currently 34.85%.
Analyst Ratings Changes
SQM has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of Sociedad Quimica y Minera from $64.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Citigroup raised Sociedad Quimica y Minera from a “neutral” rating to a “buy” rating and cut their target price for the stock from $97.00 to $95.00 in a research report on Thursday, August 27th. JPMorgan Chase & Co. upgraded Sociedad Quimica y Minera from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $88.00 to $71.00 in a report on Friday. Scotiabank boosted their price target on Sociedad Quimica y Minera from $93.00 to $104.00 and gave the company a “sector outperform” rating in a research report on Monday, August 24th. Finally, Wall Street Zen raised Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Sociedad Quimica y Minera currently has a consensus rating of “Hold” and an average price target of $80.11.
Read Our Latest Report on Sociedad Quimica y Minera
About Sociedad Quimica y Minera
Sociedad Química y Minera de Chile, known as SQM, is a Chilean mining and chemical company that produces lithium and lithium derivatives, iodine, potassium nitrate, specialty plant nutrients and other industrial chemicals. Its products serve industries including energy storage, agriculture, pharmaceuticals and manufacturing.
The company’s operations are centered in northern Chile, including the Atacama Desert, where it extracts minerals and other resources from salt flats and mineral deposits.
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