Wellington Management Group LLP Sells 8,291 Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Wellington Management Group LLP reduced its stake in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 155,837 shares of the basic materials company’s stock after selling 8,291 shares during the quarter. Wellington Management Group LLP owned about 0.05% of Sociedad Química y Minera de Chile worth $9,385,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in Sociedad Química y Minera de Chile by 133.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 830 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 475 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Sociedad Química y Minera de Chile by 25.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,253 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 253 shares during the period. Blue Trust Inc. grew its position in Sociedad Química y Minera de Chile by 22.4% in the 4th quarter. Blue Trust Inc. now owns 1,414 shares of the basic materials company’s stock valued at $84,000 after acquiring an additional 259 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in Sociedad Química y Minera de Chile in the fourth quarter worth $203,000. Finally, WP Advisors LLC bought a new stake in shares of Sociedad Química y Minera de Chile during the fourth quarter worth $229,000. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SQM has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating and raised their price target for the stock from $52.00 to $62.80 in a research note on Monday, April 8th. StockNews.com lowered Sociedad Química y Minera de Chile from a “hold” rating to a “sell” rating in a report on Monday, March 4th. Scotiabank reduced their price objective on Sociedad Química y Minera de Chile from $80.00 to $70.00 and set a “sector outperform” rating on the stock in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft upped their target price 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, Bank of America dropped their price target on Sociedad Química y Minera de Chile from $48.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Sociedad Química y Minera de Chile currently has a consensus rating of “Hold” and an average target price of $63.78.

Sociedad Química y Minera de Chile Price Performance

SQM opened at $41.50 on Friday. The firm has a market capitalization of $11.85 billion, a PE ratio of 29.86, a price-to-earnings-growth ratio of 15.19 and a beta of 1.05. The business’s 50-day moving average is $45.67 and its two-hundred day moving average is $47.85. Sociedad Química y Minera de Chile S.A. has a 1 year low of $38.50 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.34 and a quick ratio of 1.61.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its quarterly earnings data on Thursday, May 23rd. The basic materials company reported $0.80 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 analyst estimates of $1.06 billion. Sociedad Química y Minera de Chile had a net margin of 6.25% and a return on equity of 30.74%. Research analysts anticipate that Sociedad Química y Minera de Chile S.A. will post 1.12 earnings per share for the current fiscal year.

Sociedad Química y Minera de Chile Cuts Dividend

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

Sociedad Química y Minera de Chile Company 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.