Comerica Bank Takes $218,000 Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Posted by MarketBeat News on Aug 1st, 2022

Comerica Bank acquired a new stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM – Get Rating) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,532 shares of the basic materials company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SQM. Janney Montgomery Scott LLC grew its position in shares of Sociedad Química y Minera de Chile by 1.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 41,490 shares of the basic materials company’s stock valued at $2,092,000 after acquiring an additional 657 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Sociedad Química y Minera de Chile during the 4th quarter worth about $20,408,000. Qube Research & Technologies Ltd acquired a new stake in shares of Sociedad Química y Minera de Chile during the 4th quarter worth about $580,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sociedad Química y Minera de Chile by 33.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 234,951 shares of the basic materials company’s stock worth $11,849,000 after buying an additional 58,401 shares during the last quarter. Finally, AGF Investments Inc. lifted its stake in shares of Sociedad Química y Minera de Chile by 54.1% during the 4th quarter. AGF Investments Inc. now owns 925,803 shares of the basic materials company’s stock worth $46,688,000 after buying an additional 325,132 shares during the last quarter. Institutional investors own 19.99% of the company’s stock.

Sociedad Química y Minera de Chile Trading Up 1.1 %

NYSE SQM opened at $98.37 on Monday. The company has a quick ratio of 1.86, a current ratio of 2.37 and a debt-to-equity ratio of 0.79. Sociedad Química y Minera de Chile S.A. has a twelve month low of $45.91 and a twelve month high of $115.76. The company has a market cap of $25.89 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 0.50 and a beta of 0.83. The business’s fifty day moving average is $93.13 and its 200 day moving average is $79.43.

Sociedad Química y Minera de Chile (NYSE:SQM – Get Rating) last announced its earnings results on Thursday, May 19th. The basic materials company reported $2.79 EPS for the quarter, beating the consensus estimate of $1.23 by $1.56. Sociedad Química y Minera de Chile had a return on equity of 40.37% and a net margin of 30.17%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.28 billion. As a group, sell-side analysts expect that Sociedad Química y Minera de Chile S.A. will post 10.71 EPS for the current fiscal year.

Sociedad Química y Minera de Chile Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 21st. Stockholders of record on Friday, June 3rd were given a dividend of $2.7872 per share. This represents a $11.15 dividend on an annualized basis and a dividend yield of 11.33%. This is a positive change from Sociedad Química y Minera de Chile’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, June 2nd. Sociedad Química y Minera de Chile’s dividend payout ratio is presently 201.09%.

Analyst Ratings Changes

A number of analysts have recently issued reports on SQM shares. Jefferies Financial Group raised their target price on shares of Sociedad Química y Minera de Chile from $78.00 to $91.00 in a research note on Thursday, June 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on Sociedad Química y Minera de Chile from $122.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, July 6th. StockNews.com upgraded Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating in a research note on Tuesday, May 31st. Citigroup raised their price objective on Sociedad Química y Minera de Chile from $103.00 to $121.00 and gave the stock a “buy” rating in a research note on Friday, May 20th. Finally, BMO Capital Markets raised their price objective on Sociedad Química y Minera de Chile from $100.00 to $125.00 in a research note on Monday, May 30th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Sociedad Química y Minera de Chile currently has a consensus rating of “Hold” and a consensus price target of $88.75.

About Sociedad Química y Minera de Chile

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Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its 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.