Sociedad Quimica y Minera (NYSE:SQM) Hits New 12-Month High – Here’s Why

Sociedad Quimica y Minera S.A. (NYSE:SQM)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $95.56 and last traded at $94.5880, with a volume of 659248 shares traded. The stock had previously closed at $92.64.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Sociedad Quimica y Minera from $88.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Clarkson Capital reaffirmed a “neutral” rating and set a $90.00 price target on shares of Sociedad Quimica y Minera in a research report on Thursday, January 22nd. Scotiabank increased their price target on shares of Sociedad Quimica y Minera from $90.00 to $100.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, March 4th. Finally, Wall Street Zen upgraded shares of Sociedad Quimica y Minera from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.42.

Sociedad Quimica y Minera Trading Down 0.3%

The firm has a market capitalization of $26.10 billion, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 0.26 and a beta of 1.00. The firm has a 50 day moving average price of $81.58 and a two-hundred day moving average price of $71.36.

Sociedad Quimica y Minera (NYSE:SQM) last posted its earnings results on Saturday, February 14th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter. The firm had revenue of $1.32 billion during the quarter. Sociedad Quimica y Minera had a net margin of 12.85% and a return on equity of 9.69%. As a group, research analysts forecast that Sociedad Quimica y Minera S.A. will post 7.3 earnings per share for the current year.

Sociedad Quimica y Minera Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 8th will be paid a $1.0295 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 8th. Sociedad Quimica y Minera’s dividend payout ratio (DPR) is currently 5.85%.

Institutional Trading of Sociedad Quimica y Minera

A number of institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new position in Sociedad Quimica y Minera in the fourth quarter valued at about $29,000. GAMMA Investing LLC boosted its position in shares of Sociedad Quimica y Minera by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 441 shares of the basic materials company’s stock worth $30,000 after buying an additional 256 shares during the period. Fulcrum Asset Management LLP acquired a new stake in shares of Sociedad Quimica y Minera in the third quarter valued at about $43,000. Signaturefd LLC grew its stake in shares of Sociedad Quimica y Minera by 37.0% in the fourth quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock valued at $45,000 after buying an additional 177 shares in the last quarter. Finally, Triumph Capital Management purchased a new stake in shares of Sociedad Quimica y Minera during the 3rd quarter valued at about $49,000. 12.41% of the stock is owned by hedge funds and other institutional investors.

About Sociedad Quimica y Minera

Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.