Wellington Management Group LLP Reduces Stock Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Wellington Management Group LLP trimmed its holdings in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 5.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 155,837 shares of the basic materials company’s stock after selling 8,291 shares during the period. Wellington Management Group LLP’s holdings in Sociedad Química y Minera de Chile were worth $9,385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its stake in Sociedad Química y Minera de Chile by 688.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,006,607 shares of the basic materials company’s stock worth $60,618,000 after acquiring an additional 878,933 shares in the last quarter. Prudential PLC acquired a new stake in shares of Sociedad Química y Minera de Chile during the fourth quarter worth about $30,572,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Sociedad Química y Minera de Chile by 9.5% in 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 last quarter. Franklin Resources Inc. acquired a new stake in shares of Sociedad Química y Minera de Chile in the 4th quarter valued at about $8,076,000. Finally, Moneda S.A. Administradora General de Fondos grew its stake in Sociedad Química y Minera de Chile by 78.5% during the 4th quarter. Moneda S.A. Administradora General de Fondos now owns 245,321 shares of the basic materials company’s stock worth $14,773,000 after buying an additional 107,875 shares during the last quarter. 12.41% of the stock is owned by institutional investors and hedge funds.

Sociedad Química y Minera de Chile Stock Performance

Shares of SQM stock opened at $41.50 on Friday. The company has a current ratio of 2.34, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $45.67 and a 200-day simple moving average of $47.85. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 15.19 and a beta of 1.05. Sociedad Química y Minera de Chile S.A. has a 12-month low of $38.50 and a 12-month high of $81.50.

Sociedad Química y Minera de Chile (NYSE:SQM) last released its quarterly earnings data on Thursday, May 23rd. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.72) by $2.52. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Sociedad Química y Minera de Chile had a return on equity of 30.74% and a net margin of 6.25%. On average, equities analysts forecast that Sociedad Química y Minera de Chile S.A. will post 1.12 EPS for the current year.

Sociedad Química y Minera de Chile Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Friday, May 10th were issued a dividend of $0.2134 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Thursday, May 9th. Sociedad Química y Minera de Chile’s dividend payout ratio is currently 41.01%.

Wall Street Analysts Forecast Growth

SQM has been the subject of several research analyst reports. StockNews.com downgraded Sociedad Química y Minera de Chile from a “hold” rating to a “sell” rating in a report on Monday, March 4th. Scotiabank lowered their price objective on shares of Sociedad Química y Minera de Chile from $80.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 4th. Bank of America reduced their target price on shares of Sociedad Química y Minera de Chile from $48.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft raised their price target on Sociedad Química y Minera de Chile from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, May 28th. Finally, The Goldman Sachs Group reduced their price objective on Sociedad Química y Minera de Chile from $54.50 to $46.50 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.78.

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.