JPMorgan Chase & Co. Purchases 123,918 Shares of Sociedad Quimica y Minera de Chile (NYSE:SQM)

JPMorgan Chase & Co. raised its position in shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) by 494.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 148,998 shares of the basic materials company’s stock after acquiring an additional 123,918 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sociedad Quimica y Minera de Chile were worth $4,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cornerstone Advisors Inc. grew its holdings in Sociedad Quimica y Minera de Chile by 156.5% during the second quarter. Cornerstone Advisors Inc. now owns 1,285 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 784 shares during the period. Geode Capital Management LLC grew its holdings in Sociedad Quimica y Minera de Chile by 18.6% during the fourth quarter. Geode Capital Management LLC now owns 6,198 shares of the basic materials company’s stock valued at $237,000 after purchasing an additional 970 shares during the period. Parallel Advisors LLC grew its holdings in Sociedad Quimica y Minera de Chile by 453.9% during the second quarter. Parallel Advisors LLC now owns 1,346 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 1,103 shares during the period. First Trust Advisors LP grew its holdings in Sociedad Quimica y Minera de Chile by 3.8% during the first quarter. First Trust Advisors LP now owns 38,876 shares of the basic materials company’s stock valued at $1,494,000 after purchasing an additional 1,420 shares during the period. Finally, NumerixS Investment Technologies Inc grew its holdings in Sociedad Quimica y Minera de Chile by 35.9% during the first quarter. NumerixS Investment Technologies Inc now owns 6,800 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 1,798 shares during the period. 10.04% of the stock is owned by institutional investors and hedge funds.

Sociedad Quimica y Minera de Chile stock opened at $27.73 on Friday. Sociedad Quimica y Minera de Chile has a one year low of $22.71 and a one year high of $48.80. The business has a fifty day moving average price of $26.41 and a 200-day moving average price of $32.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.80 and a quick ratio of 1.83. The firm has a market capitalization of $7.01 billion, a P/E ratio of 16.60, a PEG ratio of 2.20 and a beta of 1.16.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last posted its quarterly earnings results on Wednesday, August 21st. The basic materials company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.09). Sociedad Quimica y Minera de Chile had a return on equity of 16.04% and a net margin of 16.27%. The company had revenue of $494.10 million during the quarter, compared to the consensus estimate of $525.73 million. During the same period in the previous year, the business earned $0.51 earnings per share. Sociedad Quimica y Minera de Chile’s revenue was down 22.6% on a year-over-year basis. Sell-side analysts expect that Sociedad Quimica y Minera de Chile will post 1.15 earnings per share for the current fiscal year.

The business also recently declared a — dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be issued a $0.2667 dividend. This represents a dividend yield of 4.3%. The ex-dividend date is Thursday, September 5th. Sociedad Quimica y Minera de Chile’s payout ratio is currently 55.69%.

Several equities analysts have weighed in on SQM shares. ValuEngine raised Sociedad Quimica y Minera de Chile from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lowered Sociedad Quimica y Minera de Chile from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $29.00 to $23.00 in a report on Thursday, August 22nd. BMO Capital Markets set a $24.00 price target on Sociedad Quimica y Minera de Chile and gave the stock a “hold” rating in a report on Friday, August 23rd. Morgan Stanley raised Sociedad Quimica y Minera de Chile from an “underweight” rating to an “equal weight” rating in a report on Friday, July 12th. Finally, Jefferies Financial Group set a $26.00 price target on Sociedad Quimica y Minera de Chile and gave the stock a “hold” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $29.50.

Sociedad Quimica y Minera de Chile 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.

Further Reading: Cost of Debt

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

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