Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 95,111 shares of the basic materials company’s stock after purchasing an additional 275 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sociedad Química y Minera de Chile were worth $3,876,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC boosted its position in Sociedad Química y Minera de Chile by 8.4% in the first quarter. Lazard Asset Management LLC now owns 2,144,179 shares of the basic materials company’s stock worth $105,407,000 after purchasing an additional 165,370 shares during the last quarter. Robeco Schweiz AG lifted its position in shares of Sociedad Química y Minera de Chile by 23.4% during the 1st quarter. Robeco Schweiz AG now owns 1,407,650 shares of the basic materials company’s stock valued at $69,200,000 after buying an additional 267,005 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Sociedad Química y Minera de Chile by 9.3% during the 1st quarter. Earnest Partners LLC now owns 1,019,368 shares of the basic materials company’s stock valued at $50,112,000 after buying an additional 86,811 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Sociedad Química y Minera de Chile by 1.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 862,343 shares of the basic materials company’s stock valued at $35,140,000 after buying an additional 15,604 shares in the last quarter. Finally, Prudential PLC purchased a new position in shares of Sociedad Química y Minera de Chile during the 4th quarter valued at about $30,572,000. 12.41% of the stock is owned by hedge funds and other institutional investors.

Sociedad Química y Minera de Chile Stock Performance

NYSE:SQM opened at $38.80 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.47. Sociedad Química y Minera de Chile S.A. has a 1 year low of $32.24 and a 1 year high of $64.62. The stock’s 50 day simple moving average is $38.81 and its two-hundred day simple moving average is $43.89. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 27.91 and a beta of 1.05.

Sociedad Química y Minera de Chile (NYSE:SQM) last released its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.24). Sociedad Química y Minera de Chile had a return on equity of 23.15% and a net margin of 0.48%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm earned $2.03 EPS. As a group, equities analysts anticipate that Sociedad Química y Minera de Chile S.A. will post -0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SQM has been the topic of a number of analyst reports. Berenberg Bank initiated coverage on Sociedad Química y Minera de Chile in a research report on Wednesday, July 31st. They set a “hold” rating and a $35.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Bank of America lowered their price objective on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 21st. BMO Capital Markets lowered their price objective on Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Finally, The Goldman Sachs Group raised Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $53.94.

About Sociedad Química y Minera de Chile

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.