Shariaportfolio Inc. Sells 1,023 Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Shariaportfolio Inc. cut its stake in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,087 shares of the basic materials company’s stock after selling 1,023 shares during the quarter. Sociedad Química y Minera de Chile makes up approximately 0.7% of Shariaportfolio Inc.’s holdings, making the stock its 21st biggest holding. Shariaportfolio Inc.’s holdings in Sociedad Química y Minera de Chile were worth $1,267,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SQM. Franklin Resources Inc. purchased a new stake in Sociedad Química y Minera de Chile in the fourth quarter valued at $8,076,000. EverSource Wealth Advisors LLC grew its position in Sociedad Química y Minera de Chile by 133.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 830 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 475 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Sociedad Química y Minera de Chile by 79.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 29,612 shares of the basic materials company’s stock worth $1,783,000 after purchasing an additional 13,108 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Sociedad Química y Minera de Chile by 21.1% in the 4th quarter. US Bancorp DE now owns 15,716 shares of the basic materials company’s stock worth $946,000 after acquiring an additional 2,737 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Sociedad Química y Minera de Chile by 1,490.9% during the fourth quarter. Allianz Asset Management GmbH now owns 87,500 shares of the basic materials company’s stock worth $5,269,000 after buying an additional 82,000 shares during the period. 12.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SQM shares. Bank of America cut their target price on shares of Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. BMO Capital Markets decreased their price target on Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Berenberg Bank assumed coverage on shares of Sociedad Química y Minera de Chile in a research note on Wednesday, July 31st. They issued a “hold” rating and a $35.00 target price for the company. Finally, Jefferies Financial Group cut their price target on shares of Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $50.06.

Sociedad Química y Minera de Chile Stock Performance

Shares of NYSE SQM opened at $38.44 on Wednesday. The stock has a 50 day moving average of $37.81 and a 200-day moving average of $43.37. 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 capitalization of $10.98 billion, a P/E ratio of 27.65 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) last released its 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). The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sociedad Química y Minera de Chile had a return on equity of 23.15% and a net margin of 0.48%. During the same quarter in the previous year, the company earned $2.03 earnings per share. As a group, equities research analysts predict that Sociedad Química y Minera de Chile S.A. will post -0.88 EPS for the current year.

Sociedad Química y Minera de Chile Company Profile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers.