KG&L Capital Management LLC Sells 4,585 Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

KG&L Capital Management LLC reduced its holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 37.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,521 shares of the basic materials company’s stock after selling 4,585 shares during the period. KG&L Capital Management LLC’s holdings in Sociedad Química y Minera de Chile were worth $306,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC bought a new position in Sociedad Química y Minera de Chile during the first quarter worth $34,000. Accent Capital Management LLC acquired a new stake in shares of Sociedad Química y Minera de Chile during the 4th quarter worth about $47,000. CWM LLC boosted its holdings in shares of Sociedad Química y Minera de Chile by 40.1% during the 1st quarter. CWM LLC now owns 790 shares of the basic materials company’s stock worth $39,000 after buying an additional 226 shares during the period. EverSource Wealth Advisors LLC grew its stake in Sociedad Química y Minera de Chile by 133.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 830 shares of the basic materials company’s stock valued at $50,000 after buying an additional 475 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Sociedad Química y Minera de Chile by 396.2% in the 2nd 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. Institutional investors and hedge funds own 12.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on SQM. The Goldman Sachs Group raised Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. Berenberg Bank initiated coverage on Sociedad Química y Minera de Chile in a report on Wednesday, July 31st. They set a “hold” rating and a $35.00 target price for the company. Bank of America decreased their price target on shares of Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a research note on Wednesday. BMO Capital Markets lowered their price target on shares of Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective 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 report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Sociedad Química y Minera de Chile has an average rating of “Hold” and an average target price of $56.43.

Sociedad Química y Minera de Chile Price Performance

Sociedad Química y Minera de Chile stock traded down $1.32 during trading hours on Thursday, reaching $37.13. 332,555 shares of the stock were exchanged, compared to its average volume of 1,225,724. The stock has a 50 day moving average of $39.44 and a two-hundred day moving average of $44.07. The company has a market cap of $10.61 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 11.53 and a beta of 1.05. The company has a current ratio of 2.34, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. Sociedad Química y Minera de Chile S.A. has a twelve month low of $32.24 and a twelve month high of $66.45.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its quarterly earnings results on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share (EPS) 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 30.74% and a net margin of 6.25%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business posted $2.03 EPS. Equities analysts expect that Sociedad Química y Minera de Chile S.A. will post 1.36 EPS for the current fiscal year.

About Sociedad Química y Minera de Chile

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.