Northwestern Mutual Wealth Management Co. Boosts Holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Northwestern Mutual Wealth Management Co. lifted its holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 47.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,133 shares of the basic materials company’s stock after purchasing an additional 683 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Sociedad Química y Minera de Chile were worth $87,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in shares of Sociedad Química y Minera de Chile by 41.6% during the second quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company’s stock worth $36,661,000 after acquiring an additional 264,324 shares during the period. Marshall Wace LLP purchased a new stake in Sociedad Química y Minera de Chile during the 2nd quarter worth about $8,592,000. Lazard Asset Management LLC boosted its stake in shares of Sociedad Química y Minera de Chile by 8.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,144,179 shares of the basic materials company’s stock valued at $105,407,000 after buying an additional 165,370 shares during the period. Prudential PLC grew its position in shares of Sociedad Química y Minera de Chile by 18.9% during the second quarter. Prudential PLC now owns 612,538 shares of the basic materials company’s stock worth $24,961,000 after buying an additional 97,479 shares in the last quarter. Finally, Earnest Partners LLC increased its stake in shares of Sociedad Química y Minera de Chile by 9.3% during the first quarter. Earnest Partners LLC now owns 1,019,368 shares of the basic materials company’s stock worth $50,112,000 after buying an additional 86,811 shares during the period. 12.41% of the stock is owned by hedge funds and other institutional investors.

Sociedad Química y Minera de Chile Trading Down 3.4 %

SQM opened at $42.44 on Friday. The firm has a market capitalization of $12.12 billion, a P/E ratio of 385.82 and a beta of 1.02. The firm’s 50 day moving average is $38.24 and its 200-day moving average is $42.40. The company has a quick ratio of 1.47, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. Sociedad Química y Minera de Chile S.A. has a 52-week low of $32.24 and a 52-week high of $64.62.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SQM shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Jefferies Financial Group dropped 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 report on Monday, August 26th. Bank of America decreased their price target on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a report on Wednesday, August 21st. The Goldman Sachs Group upgraded Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. Finally, Berenberg Bank assumed coverage on shares of Sociedad Química y Minera de Chile in a research note on Wednesday, July 31st. They issued a “hold” rating and a $35.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.69.

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.