KG&L Capital Management LLC Sells 4,585 Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

KG&L Capital Management LLC decreased its stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 37.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,521 shares of the basic materials company’s stock after selling 4,585 shares during the period. KG&L Capital Management LLC’s holdings in Sociedad Química y Minera de Chile were worth $306,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in shares of Sociedad Química y Minera de Chile in the 1st quarter worth approximately $34,000. Blue Trust Inc. increased its position in shares of Sociedad Química y Minera de Chile by 396.2% during the second quarter. Blue Trust Inc. now owns 913 shares of the basic materials company’s stock valued at $37,000 after buying an additional 729 shares during the period. CWM LLC lifted its holdings in shares of 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 buying an additional 226 shares in the last quarter. Accent Capital Management LLC bought a new position in shares of Sociedad Química y Minera de Chile in the fourth quarter valued at approximately $47,000. Finally, EverSource Wealth Advisors LLC grew its stake in Sociedad Química y Minera de Chile by 133.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 830 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 475 shares in the last quarter. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on SQM. The Goldman Sachs Group upgraded shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research note on Friday, August 9th. 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. Deutsche Bank Aktiengesellschaft reduced their target price on Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Berenberg Bank initiated coverage on Sociedad Química y Minera de Chile in a report on Wednesday, July 31st. They issued a “hold” rating and a $35.00 price target on the stock. Finally, BMO Capital Markets cut their price objective on Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.43.

Sociedad Química y Minera de Chile Price Performance

Shares of Sociedad Química y Minera de Chile stock traded down $1.32 during trading on Thursday, hitting $37.13. 332,555 shares of the stock traded hands, compared to its average volume of 1,225,724. The firm’s fifty day moving average is $39.44 and its 200-day moving average is $44.07. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 11.53 and a beta of 1.05. Sociedad Química y Minera de Chile S.A. has a 52 week low of $32.24 and a 52 week high of $66.45. The company has a quick ratio of 1.61, a current ratio of 2.34 and a debt-to-equity ratio of 0.63.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its quarterly earnings results on Wednesday, August 21st. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 6.25% and a return on equity of 30.74%. During the same quarter in the previous year, the business earned $2.03 earnings per share. Research analysts expect that Sociedad Química y Minera de Chile S.A. will post 1.36 EPS for the current fiscal year.

About Sociedad Química y Minera de Chile

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.