Manning & Napier Advisors LLC Sells 880,859 Shares of Sociedad Quimica y Minera S.A. (NYSE:SQM)

Manning & Napier Advisors LLC decreased its position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM) by 26.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,430,332 shares of the basic materials company’s stock after selling 880,859 shares during the quarter. Sociedad Quimica y Minera comprises approximately 1.2% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 26th largest position. Manning & Napier Advisors LLC’s holdings in Sociedad Quimica y Minera were worth $96,557,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Soros Fund Management LLC bought a new stake in Sociedad Quimica y Minera in the fourth quarter worth approximately $5,619,000. Earnest Partners LLC increased its stake in shares of Sociedad Quimica y Minera by 1.8% in the 4th quarter. Earnest Partners LLC now owns 1,071,339 shares of the basic materials company’s stock valued at $38,954,000 after acquiring an additional 18,748 shares in the last quarter. MGO One Seven LLC bought a new stake in shares of Sociedad Quimica y Minera in the 4th quarter valued at $642,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Sociedad Quimica y Minera by 121.9% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 61,519 shares of the basic materials company’s stock valued at $2,236,000 after acquiring an additional 33,797 shares in the last quarter. Finally, White Knight Strategic Wealth Advisors LLC increased its stake in shares of Sociedad Quimica y Minera by 86.5% in the 4th quarter. White Knight Strategic Wealth Advisors LLC now owns 34,244 shares of the basic materials company’s stock valued at $1,245,000 after acquiring an additional 15,879 shares in the last quarter. Institutional investors own 12.41% of the company’s stock.

Sociedad Quimica y Minera Trading Down 3.0%

NYSE:SQM opened at $32.13 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.88 and a quick ratio of 1.96. The firm has a 50-day moving average of $33.76 and a 200-day moving average of $37.25. The company has a market cap of $9.18 billion, a PE ratio of 15.23 and a beta of 1.04. Sociedad Quimica y Minera S.A. has a one year low of $29.36 and a one year high of $45.89.

Sociedad Quimica y Minera (NYSE:SQM) last issued its quarterly earnings data on Wednesday, May 28th. The basic materials company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.15). Sociedad Quimica y Minera had a return on equity of 11.71% and a net margin of 13.45%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm posted ($3.04) earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities research analysts expect that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SQM shares. BMO Capital Markets decreased their price target on shares of Sociedad Quimica y Minera from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, May 29th. Scotiabank decreased their target price on Sociedad Quimica y Minera from $50.00 to $45.00 and set a “sector outperform” rating for the company in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. decreased their target price on Sociedad Quimica y Minera from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, June 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $41.14.

Sociedad Quimica y Minera 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.