Zurich Insurance Group Ltd FI Purchases New Stake in Sociedad Quimica y Minera de Chile (SQM)

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Zurich Insurance Group Ltd FI bought a new position in shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,697 shares of the basic materials company’s stock, valued at approximately $130,000.

Several other hedge funds also recently made changes to their positions in SQM. Financial Gravity Wealth Inc. bought a new stake in shares of Sociedad Quimica y Minera de Chile during the first quarter worth approximately $104,000. US Bancorp DE increased its stake in Sociedad Quimica y Minera de Chile by 72.4% in the first quarter. US Bancorp DE now owns 2,284 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 959 shares in the last quarter. IFP Advisors Inc increased its stake in Sociedad Quimica y Minera de Chile by 2,518.4% in the first quarter. IFP Advisors Inc now owns 2,566 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 2,468 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in Sociedad Quimica y Minera de Chile in the second quarter valued at approximately $202,000. Finally, BB&T Securities LLC bought a new stake in shares of Sociedad Quimica y Minera de Chile during the first quarter worth $227,000. Institutional investors own 9.49% of the company’s stock.

SQM has been the subject of several research reports. TheStreet downgraded shares of Sociedad Quimica y Minera de Chile from a “b” rating to a “c” rating in a research report on Friday, August 24th. JPMorgan Chase & Co. reduced their target price on shares of Sociedad Quimica y Minera de Chile from $65.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, August 22nd. Jefferies Financial Group assumed coverage on shares of Sociedad Quimica y Minera de Chile in a report on Wednesday, October 3rd. They set a “hold” rating and a $51.00 target price for the company. Zacks Investment Research upgraded shares of Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Friday, October 5th. Finally, BMO Capital Markets increased their price target on shares of Sociedad Quimica y Minera de Chile to $50.00 and gave the company an “underperform” rating in a research note on Monday, August 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Sociedad Quimica y Minera de Chile currently has a consensus rating of “Hold” and a consensus price target of $53.00.

SQM stock traded up $0.34 during trading hours on Friday, reaching $43.09. The stock had a trading volume of 797,574 shares, compared to its average volume of 1,125,292. The stock has a market cap of $12.03 billion, a P/E ratio of 26.44, a P/E/G ratio of 1.21 and a beta of 1.06. Sociedad Quimica y Minera de Chile has a fifty-two week low of $40.91 and a fifty-two week high of $64.20. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.64 and a quick ratio of 2.33.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last issued its quarterly earnings data on Wednesday, August 22nd. The basic materials company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.13. The company had revenue of $638.70 million for the quarter, compared to analyst estimates of $549.92 million. Sociedad Quimica y Minera de Chile had a net margin of 20.56% and a return on equity of 21.19%. As a group, equities research analysts anticipate that Sociedad Quimica y Minera de Chile will post 1.88 EPS for the current fiscal year.

The business also recently disclosed a semiannual dividend, which was paid on Monday, September 24th. Stockholders of record on Thursday, September 6th were given a $0.5086 dividend. The ex-dividend date of this dividend was Wednesday, September 5th. This is a positive change from Sociedad Quimica y Minera de Chile’s previous semiannual dividend of $0.42. This represents a dividend yield of 2.36%. Sociedad Quimica y Minera de Chile’s dividend payout ratio is presently 79.75%.

Sociedad Quimica y Minera de Chile Company Profile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, industrial chemicals, potassium, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty mixes, and other specialty fertilizers for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

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Institutional Ownership by Quarter for Sociedad Quimica y Minera de Chile (NYSE:SQM)

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