The Manufacturers Life Insurance Company Has $449,000 Stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

The Manufacturers Life Insurance Company boosted its holdings in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,020 shares of the basic materials company’s stock after buying an additional 591 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Sociedad Química y Minera de Chile were worth $449,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SQM. Headlands Technologies LLC bought a new stake in Sociedad Química y Minera de Chile during the first quarter valued at about $34,000. Blue Trust Inc. boosted its holdings in Sociedad Química y Minera de Chile by 396.2% during the second quarter. Blue Trust Inc. now owns 913 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 729 shares during the period. CWM LLC boosted its holdings in Sociedad Química y Minera de Chile by 40.1% during the first quarter. CWM LLC now owns 790 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 226 shares during the period. Whittier Trust Co. boosted its holdings in Sociedad Química y Minera de Chile by 6,315.8% during the first quarter. Whittier Trust Co. now owns 1,219 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 1,200 shares during the period. Finally, Signaturefd LLC boosted its holdings in Sociedad Química y Minera de Chile by 204.9% during the second quarter. Signaturefd LLC now owns 2,061 shares of the basic materials company’s stock valued at $84,000 after acquiring an additional 1,385 shares during the period. 12.41% of the stock is owned by institutional investors and hedge funds.

Sociedad Química y Minera de Chile Stock Up 0.7 %

Shares of SQM opened at $39.18 on Thursday. The company has a market capitalization of $11.19 billion, a P/E ratio of 28.19 and a beta of 1.02. 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 one year low of $32.24 and a one year high of $64.62. The business’s 50 day simple moving average is $38.55 and its 200-day simple moving average is $42.17.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $2.03 EPS. As a group, sell-side analysts predict 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 equities research analysts have issued reports on the stock. 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. Berenberg Bank started 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 target price for the company. Deutsche Bank Aktiengesellschaft reduced their target price 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. Bank of America reduced their target price on shares of 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. Finally, Jefferies Financial Group reduced their target price on shares of Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Sociedad Química y Minera de Chile currently has an average rating of “Hold” and a consensus target price of $48.69.

Sociedad Química y Minera de Chile Company 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.