Y Intercept Hong Kong Ltd Acquires New Holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Y Intercept Hong Kong Ltd purchased a new stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,447 shares of the basic materials company's stock, valued at approximately $560,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SQM. Blue Trust Inc. raised its holdings in Sociedad Química y Minera de Chile by 396.2% in the 2nd quarter. Blue Trust Inc. now owns 913 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 729 shares during the period. Signaturefd LLC grew its position in shares of Sociedad Química y Minera de Chile by 204.9% in the second quarter. Signaturefd LLC now owns 2,061 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 1,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Sociedad Química y Minera de Chile by 47.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,133 shares of the basic materials company's stock worth $87,000 after purchasing an additional 683 shares during the period. MML Investors Services LLC acquired a new stake in Sociedad Química y Minera de Chile during the 3rd quarter worth approximately $202,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in Sociedad Química y Minera de Chile by 216.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,968 shares of the basic materials company's stock valued at $207,000 after purchasing an additional 3,398 shares during the period. Institutional investors own 12.41% of the company's stock.

Sociedad Química y Minera de Chile Price Performance

Shares of SQM stock traded down $1.54 during trading hours on Friday, reaching $37.77. The company's stock had a trading volume of 927,141 shares, compared to its average volume of 1,197,722. The company has a quick ratio of 2.05, a current ratio of 2.94 and a debt-to-equity ratio of 0.74. Sociedad Química y Minera de Chile S.A. has a fifty-two week low of $32.24 and a fifty-two week high of $64.62. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of -34.03 and a beta of 1.03. The firm's 50 day simple moving average is $39.38 and its 200-day simple moving average is $39.59.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SQM shares. StockNews.com upgraded Sociedad Química y Minera de Chile to a "sell" rating in a research report on Thursday, November 21st. Scotiabank dropped 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. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a "hold" rating on the stock in a research report on Thursday, November 21st. Jefferies Financial Group dropped their price target on shares of Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a "buy" rating for the company in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. downgraded Sociedad Química y Minera de Chile from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $55.00 to $44.00 in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sociedad Química y Minera de Chile currently has an average rating of "Hold" and an average target price 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.