Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Shares Purchased by abrdn plc

abrdn plc boosted its stake in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,204,942 shares of the basic materials company's stock after acquiring an additional 31,955 shares during the quarter. abrdn plc owned about 0.42% of Sociedad Química y Minera de Chile worth $49,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC lifted its position in Sociedad Química y Minera de Chile by 8.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,144,179 shares of the basic materials company's stock worth $105,407,000 after acquiring an additional 165,370 shares during the period. Earnest Partners LLC lifted its holdings in shares of Sociedad Química y Minera de Chile by 9.3% in the 1st quarter. Earnest Partners LLC now owns 1,019,368 shares of the basic materials company's stock valued at $50,112,000 after buying an additional 86,811 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Sociedad Química y Minera de Chile by 41.6% in the 2nd quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company's stock valued at $36,661,000 after buying an additional 264,324 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sociedad Química y Minera de Chile by 2.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,342 shares of the basic materials company's stock valued at $36,984,000 after buying an additional 24,999 shares during the period. Finally, Prudential PLC lifted its holdings in shares of Sociedad Química y Minera de Chile by 18.9% in the 2nd quarter. Prudential PLC now owns 612,538 shares of the basic materials company's stock valued at $24,961,000 after buying an additional 97,479 shares during the period. 12.41% of the stock is owned by institutional investors and hedge funds.

Sociedad Química y Minera de Chile Price Performance

Sociedad Química y Minera de Chile stock traded down $0.28 during mid-day trading on Thursday, hitting $38.40. 725,454 shares of the company were exchanged, compared to its average volume of 1,174,522. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.47. The business's 50 day simple moving average is $39.21 and its two-hundred day simple moving average is $41.52. The company has a market capitalization of $10.97 billion, a P/E ratio of 349.09 and a beta of 1.02. Sociedad Química y Minera de Chile S.A. has a 12-month low of $32.24 and a 12-month high of $64.62.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SQM shares. Jefferies Financial Group reduced their price target on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a "buy" rating for the company in a report on Monday, August 26th. Berenberg Bank initiated coverage on Sociedad Química y Minera de Chile in a research note on Wednesday, July 31st. They issued a "hold" rating and a $35.00 price objective for the company. Bank of America dropped their price objective on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an "underperform" rating for the company in a research note on Wednesday, August 21st. The Goldman Sachs Group raised Sociedad Química y Minera de Chile from a "neutral" rating to a "buy" rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. downgraded Sociedad Química y Minera de Chile from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $55.00 to $44.00 in a research note on Friday, October 11th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $48.69.

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.