Wellington Management Group LLP Invests $6.58 Million in Sociedad Quimica y Minera S.A. $SQM

Wellington Management Group LLP purchased a new position in Sociedad Quimica y Minera S.A. (NYSE:SQM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 88,814 shares of the basic materials company’s stock, valued at approximately $6,576,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Castle Hook Partners LP bought a new position in shares of Sociedad Quimica y Minera in the fourth quarter worth approximately $69,257,000. Altshuler Shaham Ltd bought a new stake in shares of Sociedad Quimica y Minera during the first quarter valued at approximately $50,183,000. Bank of America Corp DE raised its holdings in Sociedad Quimica y Minera by 87.4% in the 3rd quarter. Bank of America Corp DE now owns 1,239,588 shares of the basic materials company’s stock worth $53,278,000 after acquiring an additional 578,175 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Sociedad Quimica y Minera by 602.0% in the 1st quarter. Renaissance Technologies LLC now owns 502,484 shares of the basic materials company’s stock worth $40,671,000 after acquiring an additional 430,900 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Sociedad Quimica y Minera by 24.7% in the 4th quarter. Van ECK Associates Corp now owns 2,089,638 shares of the basic materials company’s stock valued at $143,767,000 after acquiring an additional 413,246 shares in the last quarter. 12.41% of the stock is currently owned by institutional investors.

Sociedad Quimica y Minera Price Performance

Shares of NYSE:SQM opened at $75.79 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 2.76 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $21.65 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 0.26 and a beta of 0.99. The firm’s 50 day moving average price is $73.41 and its 200-day moving average price is $78.27. Sociedad Quimica y Minera S.A. has a twelve month low of $40.58 and a twelve month high of $98.00.

Sociedad Quimica y Minera (NYSE:SQM) last issued its quarterly earnings results on Friday, August 14th. The basic materials company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.28. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Sociedad Quimica y Minera had a net margin of 20.62% and a return on equity of 19.08%. The company’s revenue was up 136.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS. Equities research analysts expect that Sociedad Quimica y Minera S.A. will post 7.33 EPS for the current year.

Sociedad Quimica y Minera Dividend Announcement

The business also recently declared a special dividend, which will be paid on Monday, September 21st. Shareholders of record on Tuesday, September 8th will be issued a dividend of $1.435 per share. The ex-dividend date of this dividend is Tuesday, September 8th. Sociedad Quimica y Minera’s payout ratio is currently 35.26%.

Analyst Upgrades and Downgrades

SQM has been the subject of a number of research analyst reports. Scotiabank lifted their target price on Sociedad Quimica y Minera from $93.00 to $104.00 and gave the stock a “sector outperform” rating in a report on Monday, August 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on Sociedad Quimica y Minera from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen upgraded Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 22nd. JPMorgan Chase & Co. decreased their target price on Sociedad Quimica y Minera from $100.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, August 28th. Finally, Citigroup upgraded shares of Sociedad Quimica y Minera from a “neutral” rating to a “buy” rating and lowered their target price for the company from $97.00 to $95.00 in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $79.90.

Sociedad Quimica y Minera Profile

Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.