abrdn plc Cuts Stock Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

abrdn plc decreased its position in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,144,463 shares of the basic materials company's stock after selling 60,479 shares during the period. abrdn plc owned approximately 0.40% of Sociedad Química y Minera de Chile worth $41,693,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SQM. Manning & Napier Advisors LLC acquired a new stake in Sociedad Química y Minera de Chile in the 4th quarter worth about $120,395,000. Allspring Global Investments Holdings LLC increased its position in shares of 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 purchasing an additional 24,999 shares during the period. State Street Corp lifted its holdings in shares of Sociedad Química y Minera de Chile by 8.9% during the 3rd quarter. State Street Corp now owns 265,545 shares of the basic materials company's stock worth $11,068,000 after acquiring an additional 21,778 shares during the period. BNP Paribas Financial Markets lifted its stake in 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 purchasing an additional 20,616 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Sociedad Química y Minera de Chile by 76.9% in the 4th quarter. KBC Group NV now owns 114,992 shares of the basic materials company's stock valued at $4,181,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors own 12.41% of the company's stock.

Sociedad Química y Minera de Chile Trading Up 0.9 %

Shares of SQM traded up $0.34 during trading hours on Friday, hitting $38.68. 888,179 shares of the stock were exchanged, compared to its average volume of 966,253. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.94 and a quick ratio of 2.05. The business has a 50-day moving average of $38.60 and a 200-day moving average of $38.50. Sociedad Química y Minera de Chile S.A. has a fifty-two week low of $32.24 and a fifty-two week high of $51.90. The firm has a market capitalization of $11.05 billion, a P/E ratio of -34.85, a price-to-earnings-growth ratio of 5.18 and a beta of 1.04.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Scotiabank dropped their price objective on Sociedad Química y Minera de Chile from $60.00 to $50.00 and set a "sector outperform" rating for the company in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft lowered 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 report on Thursday, November 21st. Finally, StockNews.com raised shares of Sociedad Química y Minera de Chile to a "sell" rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $45.56.

Sociedad Química y Minera de Chile 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.