Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Shares Bought by Chase Investment Counsel Corp

Chase Investment Counsel Corp increased its stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 50.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,000 shares of the basic materials company’s stock after acquiring an additional 10,000 shares during the quarter. Chase Investment Counsel Corp’s holdings in Sociedad Química y Minera de Chile were worth $1,250,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Sei Investments Co. raised its holdings in Sociedad Química y Minera de Chile by 0.6% during the 1st quarter. Sei Investments Co. now owns 398,746 shares of the basic materials company’s stock worth $19,602,000 after buying an additional 2,262 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Sociedad Química y Minera de Chile in the 1st quarter valued at approximately $34,000. US Bancorp DE boosted its stake in Sociedad Química y Minera de Chile by 13.4% in the 1st quarter. US Bancorp DE now owns 17,822 shares of the basic materials company’s stock worth $876,000 after purchasing an additional 2,106 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in Sociedad Química y Minera de Chile by 100.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 11,552 shares of the basic materials company’s stock worth $568,000 after purchasing an additional 5,780 shares in the last quarter. Finally, Banco BTG Pactual S.A. acquired a new stake in Sociedad Química y Minera de Chile during the 1st quarter valued at $1,170,000. 12.41% of the stock is owned by hedge funds and other institutional investors.

Sociedad Química y Minera de Chile Stock Down 3.0 %

SQM opened at $37.03 on Wednesday. Sociedad Química y Minera de Chile S.A. has a twelve month low of $32.24 and a twelve month high of $64.62. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 336.64 and a beta of 1.03. The firm’s 50-day simple moving average is $39.25 and its 200-day simple moving average is $41.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.47 and a current ratio of 2.19.

Sociedad Química y Minera de Chile (NYSE:SQM) last announced its earnings results on Wednesday, August 21st. The basic materials company reported $0.75 EPS 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 business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the firm earned $2.03 earnings per share. Equities research analysts anticipate that Sociedad Química y Minera de Chile S.A. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. The Goldman Sachs Group raised Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. Berenberg Bank assumed coverage on shares of Sociedad Química y Minera de Chile in a report on Wednesday, July 31st. They set a “hold” rating and a $35.00 price target for the company. Bank of America lowered their price target 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. JPMorgan Chase & Co. cut shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $55.00 to $44.00 in a research note on Friday, October 11th. Finally, Jefferies Financial Group decreased their target price 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Sociedad Química y Minera de Chile has a consensus rating of “Hold” and a consensus price target of $48.69.

Sociedad Química y Minera de Chile Company 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.