Legacy Wealth Asset Management LLC Takes Position in Sociedad Quimica y Minera S.A. $SQM

Legacy Wealth Asset Management LLC acquired a new stake in Sociedad Quimica y Minera S.A. (NYSE:SQM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,405 shares of the basic materials company’s stock, valued at approximately $684,000.

Several other large investors have also modified their holdings of the company. Jump Financial LLC acquired a new stake in shares of Sociedad Quimica y Minera during the first quarter worth $309,000. FORA Capital LLC acquired a new stake in shares of Sociedad Quimica y Minera during the first quarter worth $573,000. Northern Trust Corp lifted its holdings in shares of Sociedad Quimica y Minera by 17.9% during the first quarter. Northern Trust Corp now owns 346,259 shares of the basic materials company’s stock worth $13,757,000 after purchasing an additional 52,460 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Sociedad Quimica y Minera during the first quarter worth $274,000. Finally, Vident Advisory LLC lifted its holdings in shares of Sociedad Quimica y Minera by 312.0% during the first quarter. Vident Advisory LLC now owns 27,115 shares of the basic materials company’s stock worth $1,077,000 after purchasing an additional 20,533 shares during the period. 12.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SQM has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sociedad Quimica y Minera in a report on Wednesday, October 8th. BMO Capital Markets increased their price target on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Bank of America increased their price target on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the stock an “underperform” rating in a report on Tuesday, August 26th. Itau BBA Securities initiated coverage on Sociedad Quimica y Minera in a report on Thursday, September 4th. They set an “outperform” rating and a $55.00 price target for the company. Finally, JPMorgan Chase & Co. raised their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.79.

Sociedad Quimica y Minera Price Performance

Sociedad Quimica y Minera stock opened at $42.42 on Wednesday. Sociedad Quimica y Minera S.A. has a one year low of $29.36 and a one year high of $47.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.93 and a current ratio of 2.92. The business has a fifty day moving average of $44.18 and a two-hundred day moving average of $38.45. The company has a market cap of $12.12 billion, a P/E ratio of 25.40 and a beta of 1.08.

Sociedad Quimica y Minera (NYSE:SQM) last released its quarterly earnings data on Wednesday, August 20th. The basic materials company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.21). Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Sociedad Quimica y Minera’s quarterly revenue was down 19.4% on a year-over-year basis. As a group, analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current fiscal 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.