Barometer Capital Management Inc. Buys Shares of 25,800 Sociedad Quimica y Minera S.A. $SQM

Barometer Capital Management Inc. purchased a new stake in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM) during the 1st quarter, Holdings Channel reports. The fund purchased 25,800 shares of the basic materials company’s stock, valued at approximately $2,088,000.

A number of other institutional investors have also added to or reduced their stakes in SQM. ABN Amro Investment Solutions lifted its stake in Sociedad Quimica y Minera by 87.1% in the 1st quarter. ABN Amro Investment Solutions now owns 265,677 shares of the basic materials company’s stock valued at $21,504,000 after purchasing an additional 123,700 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Sociedad Quimica y Minera by 4.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,007 shares of the basic materials company’s stock valued at $1,215,000 after acquiring an additional 644 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Sociedad Quimica y Minera by 43.2% during the 1st quarter. Parallel Advisors LLC now owns 822 shares of the basic materials company’s stock valued at $67,000 after acquiring an additional 248 shares in the last quarter. Boston Common Asset Management LLC grew its position in Sociedad Quimica y Minera by 21.3% during the 1st quarter. Boston Common Asset Management LLC now owns 61,518 shares of the basic materials company’s stock worth $4,979,000 after acquiring an additional 10,800 shares during the last quarter. Finally, Barings LLC increased its holdings in Sociedad Quimica y Minera by 12.8% in the 1st quarter. Barings LLC now owns 87,186 shares of the basic materials company’s stock worth $7,057,000 after purchasing an additional 9,874 shares in the last quarter. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Sociedad Quimica y Minera Stock Up 1.5%

Sociedad Quimica y Minera stock opened at $68.71 on Wednesday. The firm has a market cap of $19.63 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 0.19 and a beta of 0.97. Sociedad Quimica y Minera S.A. has a 52-week low of $35.67 and a 52-week high of $98.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.01 and a current ratio of 2.76. The firm has a 50 day moving average price of $77.37 and a two-hundred day moving average price of $78.80.

Sociedad Quimica y Minera (NYSE:SQM) last announced its earnings results on Saturday, May 16th. The basic materials company reported $1.28 earnings per share for the quarter. Sociedad Quimica y Minera had a net margin of 15.38% and a return on equity of 11.99%. The business had revenue of $1.76 billion during the quarter. Equities analysts predict that Sociedad Quimica y Minera S.A. will post 7.28 EPS for the current year.

Wall Street Analyst Weigh In

SQM has been the subject of several research reports. Scotiabank increased their target price on Sociedad Quimica y Minera from $100.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sociedad Quimica y Minera in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Sociedad Quimica y Minera from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. CLSA raised shares of Sociedad Quimica y Minera to an “outperform” rating in a research note on Tuesday, June 2nd. Finally, Bank of America lifted their price target on shares of Sociedad Quimica y Minera from $49.00 to $53.00 and gave the stock an “underperform” rating in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $74.58.

Sociedad Quimica y Minera Company Profile

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.