Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 29.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,281 shares of the basic materials company’s stock after selling 8,077 shares during the period. Advisors Asset Management Inc.’s holdings in Sociedad Química y Minera de Chile were worth $804,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sociedad Química y Minera de Chile by 0.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,111 shares of the basic materials company’s stock worth $3,876,000 after purchasing an additional 275 shares during the period. MFA Wealth Advisors LLC boosted its stake in Sociedad Química y Minera de Chile by 4.7% during the third quarter. MFA Wealth Advisors LLC now owns 7,006 shares of the basic materials company’s stock worth $292,000 after buying an additional 313 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Sociedad Química y Minera de Chile by 3.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,037 shares of the basic materials company’s stock valued at $531,000 after acquiring an additional 401 shares during the last quarter. Saturna Capital Corp raised its stake in shares of Sociedad Química y Minera de Chile by 0.8% in the 3rd quarter. Saturna Capital Corp now owns 49,407 shares of the basic materials company’s stock valued at $2,059,000 after acquiring an additional 407 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Sociedad Química y Minera de Chile by 21.3% in the 3rd quarter. Signaturefd LLC now owns 2,500 shares of the basic materials company’s stock worth $104,000 after acquiring an additional 439 shares during the last quarter. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Sociedad Química y Minera de Chile Stock Down 2.1 %

SQM stock opened at $38.03 on Wednesday. The stock has a market cap of $10.86 billion, a P/E ratio of -34.26 and a beta of 1.03. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74. Sociedad Química y Minera de Chile S.A. has a twelve month low of $32.24 and a twelve month high of $64.62. The company’s 50 day moving average is $39.63 and its two-hundred day moving average is $40.52.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SQM shares. JPMorgan Chase & Co. lowered shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $55.00 to $44.00 in a research note on Friday, October 11th. StockNews.com upgraded Sociedad Química y Minera de Chile to a “sell” rating in a report on Thursday, November 21st. Jefferies Financial Group lowered their price objective on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Bank of America cut their target price on shares of Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group upgraded shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Sociedad Química y Minera de Chile presently has a consensus rating of “Hold” and a consensus target price of $45.56.

Sociedad Química y Minera de Chile Profile

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.