Manning & Napier Advisors LLC Acquires Shares of 3,311,191 Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Manning & Napier Advisors LLC purchased a new stake in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,311,191 shares of the basic materials company's stock, valued at approximately $120,395,000. Sociedad Química y Minera de Chile accounts for about 1.4% of Manning & Napier Advisors LLC's holdings, making the stock its 23rd largest position. Manning & Napier Advisors LLC owned about 1.16% of Sociedad Química y Minera de Chile at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. abrdn plc raised its holdings in shares of Sociedad Química y Minera de Chile by 2.7% during the third quarter. abrdn plc now owns 1,204,942 shares of the basic materials company's stock valued at $49,668,000 after acquiring an additional 31,955 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Sociedad Química y Minera de Chile by 2.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 887,342 shares of the basic materials company's stock worth $36,984,000 after acquiring an additional 24,999 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Sociedad Química y Minera de Chile by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 488,456 shares of the basic materials company's stock valued at $19,921,000 after purchasing an additional 13,756 shares during the last quarter. State Street Corp boosted its position in shares of Sociedad Química y Minera de Chile by 8.9% in the 3rd quarter. State Street Corp now owns 265,545 shares of the basic materials company's stock valued at $11,068,000 after purchasing an additional 21,778 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Sociedad Química y Minera de Chile by 15.7% during the third quarter. BNP Paribas Financial Markets now owns 152,048 shares of the basic materials company's stock worth $6,337,000 after buying an additional 20,616 shares during the period. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Sociedad Química y Minera de Chile Stock Up 1.7 %

NYSE SQM traded up $0.68 during trading hours on Thursday, reaching $40.98. 1,046,257 shares of the company's stock were exchanged, compared to its average volume of 1,067,613. The company's 50-day moving average is $38.52 and its two-hundred day moving average is $38.56. Sociedad Química y Minera de Chile S.A. has a one year low of $32.24 and a one year high of $51.90. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of -36.92, a price-to-earnings-growth ratio of 5.20 and a beta of 1.03. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.05 and a current ratio of 2.94.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SQM shares. Scotiabank reduced their price objective on shares of Sociedad Química y Minera de Chile from $60.00 to $50.00 and set a "sector outperform" rating for the company in a research note on Monday, November 25th. StockNews.com raised shares of Sociedad Química y Minera de Chile to a "sell" rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a "hold" rating for the company in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. cut Sociedad Química y Minera de Chile from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $55.00 to $44.00 in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Sociedad Química y Minera de Chile currently has a consensus rating of "Hold" and an average price target of $45.56.

Sociedad Química y Minera de Chile 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.