Allspring Global Investments Holdings LLC Has $36.98 Million Stock Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Allspring Global Investments Holdings LLC grew its holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 887,342 shares of the basic materials company's stock after buying an additional 24,999 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.31% of Sociedad Química y Minera de Chile worth $36,984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC increased its position in Sociedad Química y Minera de Chile by 40.1% in the first quarter. CWM LLC now owns 790 shares of the basic materials company's stock worth $39,000 after purchasing an additional 226 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Sociedad Química y Minera de Chile by 16.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,636 shares of the basic materials company's stock worth $621,000 after purchasing an additional 1,830 shares during the period. Harbour Capital Advisors LLC acquired a new stake in Sociedad Química y Minera de Chile in the first quarter worth about $499,000. Insight Folios Inc increased its position in Sociedad Química y Minera de Chile by 5.6% in the first quarter. Insight Folios Inc now owns 68,453 shares of the basic materials company's stock worth $3,365,000 after purchasing an additional 3,600 shares during the period. Finally, Outfitter Financial LLC increased its position in Sociedad Química y Minera de Chile by 11.6% in the first quarter. Outfitter Financial LLC now owns 17,750 shares of the basic materials company's stock worth $873,000 after purchasing an additional 1,845 shares during the period. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SQM shares. 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 stock from $55.00 to $44.00 in a report on Friday, October 11th. Berenberg Bank started coverage on Sociedad Química y Minera de Chile in a report on Wednesday, July 31st. They set a "hold" rating and a $35.00 target price on the stock. Jefferies Financial Group reduced their target price on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a "buy" rating on the stock in a report on Monday, August 26th. Bank of America reduced their target price on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an "underperform" rating on the stock in a report on Wednesday, August 21st. Finally, The Goldman Sachs Group upgraded Sociedad Química y Minera de Chile from a "neutral" rating to a "buy" rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $48.69.

Sociedad Química y Minera de Chile Stock Down 2.0 %

Shares of NYSE:SQM traded down $0.80 during trading on Wednesday, hitting $39.81. 722,079 shares of the company's stock traded hands, compared to its average volume of 1,188,490. Sociedad Química y Minera de Chile S.A. has a 52 week low of $32.24 and a 52 week high of $64.62. The company has a current ratio of 2.19, a quick ratio of 1.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $11.37 billion, a price-to-earnings ratio of 28.63 and a beta of 1.02. The company has a 50-day moving average price of $38.82 and a 200-day moving average price of $41.87.

Sociedad Química y Minera de Chile (NYSE:SQM - Get Free Report) last released its earnings results on Wednesday, August 21st. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.24). The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. Sociedad Química y Minera de Chile had a net margin of 0.48% and a return on equity of 23.15%. During the same quarter in the previous year, the firm posted $2.03 EPS. As a group, research analysts forecast that Sociedad Química y Minera de Chile S.A. will post -0.92 EPS for the current fiscal year.

About Sociedad Química y Minera de Chile

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.