Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 19.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,148 shares of the basic materials company’s stock after purchasing an additional 2,128 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sociedad Química y Minera de Chile were worth $548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in 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 buying an additional 275 shares during the last quarter. MFA Wealth Advisors LLC boosted its holdings in shares of Sociedad Química y Minera de Chile by 4.7% in the third quarter. MFA Wealth Advisors LLC now owns 7,006 shares of the basic materials company’s stock valued at $292,000 after acquiring an additional 313 shares during the period. Wealth Enhancement Advisory Services LLC grew 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 worth $531,000 after acquiring an additional 401 shares during the last quarter. Saturna Capital Corp increased its holdings 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 raised its position in 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 valued at $104,000 after purchasing an additional 439 shares during the last quarter. 12.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SQM shares. StockNews.com raised shares of Sociedad Química y Minera de Chile to a “sell” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. lowered Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $55.00 to $44.00 in a report on Friday, October 11th. Bank of America reduced their price objective on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a research note on Wednesday, August 21st. Jefferies Financial Group lowered their target price on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from 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 Stock Performance

NYSE SQM opened at $37.77 on Friday. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is $39.38 and its two-hundred day moving average is $39.65. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of -34.03 and a beta of 1.03. Sociedad Química y Minera de Chile S.A. has a 12-month low of $32.24 and a 12-month high of $64.62.

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.