Belpointe Asset Management LLC Makes New $73,000 Investment in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Belpointe Asset Management LLC acquired a new position in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM – Get Rating) in the fourth quarter, Holdings Channel.com reports. The firm acquired 909 shares of the basic materials company’s stock, valued at approximately $73,000.

Other large investors also recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. raised its position in shares of Sociedad Química y Minera de Chile by 1.8% in the first quarter. Wetherby Asset Management Inc. now owns 7,123 shares of the basic materials company’s stock valued at $610,000 after buying an additional 124 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Sociedad Química y Minera de Chile by 0.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 16,272 shares of the basic materials company’s stock valued at $1,299,000 after buying an additional 126 shares during the last quarter. Confluence Investment Management LLC raised its position in shares of Sociedad Química y Minera de Chile by 3.8% in the fourth quarter. Confluence Investment Management LLC now owns 4,248 shares of the basic materials company’s stock valued at $339,000 after buying an additional 157 shares during the last quarter. Toroso Investments LLC raised its position in shares of Sociedad Química y Minera de Chile by 0.3% in the third quarter. Toroso Investments LLC now owns 62,255 shares of the basic materials company’s stock valued at $5,650,000 after buying an additional 164 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Sociedad Química y Minera de Chile by 6.9% in the third quarter. Comerica Bank now owns 2,822 shares of the basic materials company’s stock valued at $259,000 after buying an additional 182 shares during the last quarter. 18.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SQM. JPMorgan Chase & Co. reduced their target price on shares of Sociedad Química y Minera de Chile from $134.00 to $97.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Bank of America raised shares of Sociedad Química y Minera de Chile from an “underperform” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $85.00 in a report on Monday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Sociedad Química y Minera de Chile from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 20th. Scotiabank lowered shares of Sociedad Química y Minera de Chile from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $113.00 to $86.00 in a report on Monday, May 1st. Finally, StockNews.com started coverage on shares of Sociedad Química y Minera de Chile in a report on Thursday. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $91.38.

Sociedad Química y Minera de Chile Trading Down 2.3 %

Shares of SQM stock opened at $71.08 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.29 and a quick ratio of 1.71. The firm has a market cap of $20.30 billion, a PE ratio of 5.26, a price-to-earnings-growth ratio of 0.39 and a beta of 0.95. The company has a 50-day moving average of $74.17 and a two-hundred day moving average of $84.58. Sociedad Química y Minera de Chile S.A. has a 1-year low of $60.21 and a 1-year high of $115.76.

Sociedad Química y Minera de Chile (NYSE:SQM – Get Rating) last announced its earnings results on Thursday, March 2nd. The basic materials company reported $4.03 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.23. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.17 billion. Sociedad Química y Minera de Chile had a net margin of 35.24% and a return on equity of 88.08%. On average, analysts predict that Sociedad Química y Minera de Chile S.A. will post 12.45 EPS for the current year.

Sociedad Química y Minera de Chile Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 11th. Stockholders of record on Friday, May 12th were given a dividend of $3.2237 per share. This represents a $12.89 annualized dividend and a dividend yield of 18.14%. The ex-dividend date of this dividend was Thursday, May 11th. This is a boost from Sociedad Química y Minera de Chile’s previous quarterly dividend of $1.20. Sociedad Química y Minera de Chile’s dividend payout ratio is currently 61.98%.

Sociedad Química y Minera de Chile Profile

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Sociedad Quimica y Minera de Chile SA engages in the production and distribution of fertilizers, potassium nitrate, iodine, and lithium chemicals. It operates through the following segments: Specialty Plant Nutrients, Iodine and Derivatives, Lithium and Derivatives, Industrial Chemicals, Potassium, and Other Products and Services.