Sociedad Quimica y Minera S.A. $SQM is Peregrine Investment Management Inc.’s 10th Largest Position

Peregrine Investment Management Inc. raised its stake in Sociedad Quimica y Minera S.A. (NYSE:SQM) by 58.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,150 shares of the basic materials company’s stock after buying an additional 80,970 shares during the period. Sociedad Quimica y Minera comprises about 4.6% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 10th biggest position. Peregrine Investment Management Inc.’s holdings in Sociedad Quimica y Minera were worth $9,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV grew its stake in shares of Sociedad Quimica y Minera by 5.4% during the second quarter. KBC Group NV now owns 118,007 shares of the basic materials company’s stock valued at $4,162,000 after buying an additional 6,087 shares during the last quarter. Integrated Quantitative Investments LLC bought a new stake in Sociedad Quimica y Minera during the 2nd quarter valued at $1,678,000. Boston Common Asset Management LLC bought a new stake in Sociedad Quimica y Minera in the 3rd quarter worth $2,767,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Sociedad Quimica y Minera by 33.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 71,429 shares of the basic materials company’s stock valued at $3,070,000 after buying an additional 17,869 shares during the period. Finally, RWA Wealth Partners LLC bought a new stake in Sociedad Quimica y Minera during the second quarter worth about $776,000. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Sociedad Quimica y Minera Stock Performance

Sociedad Quimica y Minera stock opened at $70.07 on Friday. The company has a quick ratio of 1.88, a current ratio of 2.82 and a debt-to-equity ratio of 0.68. Sociedad Quimica y Minera S.A. has a twelve month low of $29.36 and a twelve month high of $86.13. The company’s 50-day moving average price is $73.12 and its 200-day moving average price is $56.01. The company has a market cap of $20.02 billion, a PE ratio of 38.29 and a beta of 0.99.

Sociedad Quimica y Minera (NYSE:SQM) last released its quarterly earnings results on Tuesday, November 18th. The basic materials company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.06). Sociedad Quimica y Minera had a return on equity of 9.79% and a net margin of 12.12%.The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the business posted $0.46 EPS. The company’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current fiscal year.

Sociedad Quimica y Minera Announces Dividend

The business also recently announced a special dividend, which was paid on Monday, January 5th. Stockholders of record on Tuesday, December 30th were given a dividend of $0.1236 per share. The ex-dividend date of this dividend was Tuesday, December 30th. Sociedad Quimica y Minera’s payout ratio is currently 6.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research note on Monday, December 29th. JPMorgan Chase & Co. increased their price objective on shares of Sociedad Quimica y Minera from $79.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Zacks Research upgraded shares of Sociedad Quimica y Minera from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th. Clarkson Capital reaffirmed a “neutral” rating and issued a $90.00 target price on shares of Sociedad Quimica y Minera in a report on Thursday, January 22nd. Finally, HSBC upgraded Sociedad Quimica y Minera to a “strong-buy” rating in a research note on Monday, January 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sociedad Quimica y Minera presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.79.

About Sociedad Quimica y Minera

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.