Summit Securities Group LLC Acquires Shares of 7,774 Sociedad Quimica y Minera S.A. $SQM

Summit Securities Group LLC bought a new position in Sociedad Quimica y Minera S.A. (NYSE:SQM) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,774 shares of the basic materials company’s stock, valued at approximately $629,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SQM. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sociedad Quimica y Minera during the 4th quarter worth approximately $29,000. GAMMA Investing LLC grew its holdings 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 valued at $30,000 after purchasing an additional 256 shares in the last quarter. Fulcrum Asset Management LLP bought a new stake in Sociedad Quimica y Minera in the third quarter worth $43,000. Signaturefd LLC increased its position in Sociedad Quimica y Minera by 37.0% in the fourth quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 177 shares during the last quarter. Finally, Triumph Capital Management purchased a new stake in Sociedad Quimica y Minera during the third quarter valued at $49,000. 12.41% of the stock is owned by institutional investors.

Sociedad Quimica y Minera Trading Down 0.6%

Shares of SQM opened at $74.00 on Friday. The company’s fifty day simple moving average is $80.94 and its 200-day simple moving average is $78.81. The company has a market cap of $21.14 billion, a P/E ratio of 25.96, a P/E/G ratio of 0.21 and a beta of 0.97. The company has a current ratio of 2.76, a quick ratio of 2.01 and a debt-to-equity ratio of 0.58. Sociedad Quimica y Minera S.A. has a twelve month low of $35.67 and a twelve month high of $98.00.

Sociedad Quimica y Minera (NYSE:SQM) last issued its quarterly earnings results on Saturday, May 16th. The basic materials company reported $1.28 EPS for the quarter. Sociedad Quimica y Minera had a net margin of 15.38% and a return on equity of 11.99%. The company had revenue of $1.76 billion for the quarter. As a group, analysts expect that Sociedad Quimica y Minera S.A. will post 7.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SQM. JPMorgan Chase & Co. cut shares of Sociedad Quimica y Minera from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $94.00 to $100.00 in a research note on Tuesday, June 2nd. The Goldman Sachs Group set a $100.00 target price on shares of Sociedad Quimica y Minera in a research report on Tuesday, June 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sociedad Quimica y Minera in a report on Wednesday, June 24th. CLSA upgraded Sociedad Quimica y Minera to an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Bank of America boosted their price objective on Sociedad Quimica y Minera from $49.00 to $53.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $75.50.

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.