Tandem Capital Management Corp ADV Sells 1,170 Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Tandem Capital Management Corp ADV lowered its position in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,665 shares of the basic materials company’s stock after selling 1,170 shares during the period. Tandem Capital Management Corp ADV’s holdings in Sociedad Química y Minera de Chile were worth $221,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of Sociedad Química y Minera de Chile in the third quarter worth about $9,794,000. abrdn plc increased its holdings in shares of Sociedad Química y Minera de Chile by 4.7% in the third quarter. abrdn plc now owns 2,643,076 shares of the basic materials company’s stock worth $157,712,000 after buying an additional 119,695 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Sociedad Química y Minera de Chile by 20.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 73,776 shares of the basic materials company’s stock worth $4,402,000 after buying an additional 12,759 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Sociedad Química y Minera de Chile by 9.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,992,151 shares of the basic materials company’s stock valued at $120,387,000 after purchasing an additional 172,908 shares during the period. Finally, Bronte Capital Management Pty Ltd. increased its holdings in Sociedad Química y Minera de Chile by 98.2% during the 3rd quarter. Bronte Capital Management Pty Ltd. now owns 153,080 shares of the basic materials company’s stock valued at $9,134,000 after purchasing an additional 75,849 shares during the period. Institutional investors own 12.41% of the company’s stock.

Sociedad Química y Minera de Chile Stock Up 0.6 %

Shares of SQM stock traded up $0.25 during midday trading on Thursday, reaching $43.52. 1,212,368 shares of the stock were exchanged, compared to its average volume of 1,442,422. Sociedad Química y Minera de Chile S.A. has a 1 year low of $38.50 and a 1 year high of $81.50. The company’s 50 day moving average is $47.17 and its two-hundred day moving average is $49.59. The company has a current ratio of 2.49, a quick ratio of 1.74 and a debt-to-equity ratio of 0.58. The firm has a market cap of $12.43 billion, a PE ratio of 6.17 and a beta of 1.07.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its quarterly earnings results on Wednesday, February 28th. The basic materials company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.51). Sociedad Química y Minera de Chile had a return on equity of 37.86% and a net margin of 26.95%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the firm earned $4.03 earnings per share. On average, equities research analysts predict that Sociedad Química y Minera de Chile S.A. will post 4.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SQM. StockNews.com downgraded Sociedad Química y Minera de Chile from a “hold” rating to a “sell” rating in a report on Monday, March 4th. BMO Capital Markets reduced their price target on Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Jefferies Financial Group upgraded Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating and boosted their price target for the company from $52.00 to $62.80 in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft reduced their price target on Sociedad Química y Minera de Chile from $48.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. reduced their price target on Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Sociedad Química y Minera de Chile has a consensus rating of “Hold” and an average target price of $65.18.

Sociedad Química y Minera de Chile Profile

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.