Scotia Capital Inc. Invests $2.44 Million in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Jul 03, 2023

Scotia Capital Inc. acquired a new position in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,116 shares of the basic materials company's stock, valued at approximately $2,441,000.

Other large investors also recently modified their holdings of the company. D.A. Davidson & CO. acquired a new position in shares of Sociedad Química y Minera de Chile during the 1st quarter worth about $626,000. B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Sociedad Química y Minera de Chile by 54.8% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 26,202 shares of the basic materials company's stock valued at $2,124,000 after purchasing an additional 9,280 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Sociedad Química y Minera de Chile in the 1st quarter valued at about $48,000. Accel Wealth Management bought a new stake in shares of Sociedad Química y Minera de Chile in the 1st quarter valued at about $32,000. Finally, Penserra Capital Management LLC raised its holdings in shares of Sociedad Química y Minera de Chile by 266.7% in the 1st quarter. Penserra Capital Management LLC now owns 6,006 shares of the basic materials company's stock valued at $486,000 after purchasing an additional 4,368 shares during the period. 17.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:SQM opened at $66.01 on Thursday. The company's 50 day moving average price is $72.40 and its two-hundred day moving average price is $75.44. Sociedad Química y Minera de Chile S.A. has a 12-month low of $60.21 and a 12-month high of $115.72. The firm has a market cap of $18.86 billion, a PE ratio of 5.26, a PEG ratio of 0.40 and a beta of 0.97. The company has a quick ratio of 1.67, a current ratio of 2.39 and a debt-to-equity ratio of 0.51.

Sociedad Química y Minera de Chile (NYSE:SQM - Get Free Report) last announced its earnings results on Wednesday, August 16th. The basic materials company reported $2.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.62 by ($0.59). Sociedad Química y Minera de Chile had a return on equity of 71.64% and a net margin of 34.41%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company earned $3.01 EPS. Equities research analysts predict that Sociedad Química y Minera de Chile S.A. will post 11.06 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Friday, January 1st were given a dividend of $0.5119 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $2.05 annualized dividend and a dividend yield of 3.10%. Sociedad Química y Minera de Chile's dividend payout ratio is 16.03%.

A number of brokerages have recently issued reports on SQM. HSBC dropped their target price on shares of Sociedad Química y Minera de Chile from $134.00 to $90.50 in a report on Thursday, July 6th. The Goldman Sachs Group began coverage on shares of Sociedad Química y Minera de Chile in a report on Friday, May 19th. They issued a "sell" rating and a $60.00 price target on the stock. StockNews.com began coverage on shares of Sociedad Química y Minera de Chile in a report on Thursday, August 17th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. lowered their price target on shares of Sociedad Química y Minera de Chile from $97.00 to $93.00 and set an "overweight" rating on the stock in a report on Friday, July 21st. Finally, Bank of America lowered their price target on shares of Sociedad Química y Minera de Chile from $73.00 to $69.00 and set a "neutral" rating on the stock in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $84.94.

Get Our Latest Report on SQM

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.

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