Moneda S.A. Administradora General de Fondos Sells 25,851 Shares of Sociedad Quimica y Minera S.A. (NYSE:SQM)

Moneda S.A. Administradora General de Fondos decreased its holdings in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM) by 21.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 93,840 shares of the basic materials company’s stock after selling 25,851 shares during the quarter. Sociedad Quimica y Minera makes up about 4.0% of Moneda S.A. Administradora General de Fondos’ holdings, making the stock its 8th biggest holding. Moneda S.A. Administradora General de Fondos’ holdings in Sociedad Quimica y Minera were worth $3,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SQM. Grove Bank & Trust purchased a new stake in Sociedad Quimica y Minera in the 1st quarter valued at about $46,000. IFP Advisors Inc increased its position in shares of Sociedad Quimica y Minera by 728.0% during the first quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 1,092 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of Sociedad Quimica y Minera in the 4th quarter valued at approximately $68,000. CX Institutional acquired a new position in shares of Sociedad Quimica y Minera in the 1st quarter worth approximately $74,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Sociedad Quimica y Minera in the 1st quarter worth approximately $96,000. Institutional investors and hedge funds own 12.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SQM shares. Scotiabank dropped their target price on shares of Sociedad Quimica y Minera from $50.00 to $45.00 and set a “sector outperform” rating for the company in a report on Friday, May 30th. BMO Capital Markets dropped their price objective on Sociedad Quimica y Minera from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. cut their price objective on Sociedad Quimica y Minera from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, June 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.14.

Sociedad Quimica y Minera Trading Up 4.7%

SQM opened at $41.40 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.88 and a debt-to-equity ratio of 0.71. Sociedad Quimica y Minera S.A. has a 52 week low of $29.36 and a 52 week high of $45.89. The business’s 50 day moving average is $34.74 and its two-hundred day moving average is $37.13. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 19.62 and a beta of 1.07.

Sociedad Quimica y Minera (NYSE:SQM) last announced its earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.15). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. Sociedad Quimica y Minera had a return on equity of 11.71% and a net margin of 13.45%. Sociedad Quimica y Minera’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the company posted ($3.04) EPS. On average, research analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

Sociedad Quimica y Minera 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.