Truist Financial Corp Sells 1,111 Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Truist Financial Corp lowered its position in Sociedad Química y Minera de Chile S.A. (NYSE:SQMFree Report) by 23.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,609 shares of the basic materials company’s stock after selling 1,111 shares during the period. Truist Financial Corp’s holdings in Sociedad Química y Minera de Chile were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. abrdn plc increased its stake in Sociedad Química y Minera de Chile by 4.7% in the 3rd quarter. abrdn plc now owns 2,643,076 shares of the basic materials company’s stock worth $157,712,000 after buying an additional 119,695 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Sociedad Química y Minera de Chile by 9.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,992,151 shares of the basic materials company’s stock valued at $120,387,000 after acquiring an additional 172,908 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Sociedad Química y Minera de Chile by 37.2% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,747,264 shares of the basic materials company’s stock valued at $104,259,000 after acquiring an additional 474,000 shares in the last quarter. CI Investments Inc. boosted its holdings in shares of Sociedad Química y Minera de Chile by 5.3% in the third quarter. CI Investments Inc. now owns 1,523,519 shares of the basic materials company’s stock valued at $90,908,000 after purchasing an additional 76,054 shares during the period. Finally, Van ECK Associates Corp grew its stake in Sociedad Química y Minera de Chile by 127.3% in the third quarter. Van ECK Associates Corp now owns 1,070,851 shares of the basic materials company’s stock worth $63,898,000 after purchasing an additional 599,728 shares in the last quarter. Hedge funds and other institutional investors own 12.41% of the company’s stock.

Sociedad Química y Minera de Chile Stock Down 3.3 %

SQM opened at $47.31 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 2.33 and a debt-to-equity ratio of 0.72. Sociedad Química y Minera de Chile S.A. has a twelve month low of $38.50 and a twelve month high of $81.50. The company has a market cap of $13.51 billion, a PE ratio of 6.71 and a beta of 1.10. The company has a 50-day moving average price of $47.75 and a 200 day moving average price of $48.82.

Sociedad Química y Minera de Chile (NYSE:SQMGet Free Report) last released its earnings results on Wednesday, February 28th. The basic materials company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.51). Sociedad Química y Minera de Chile had a net margin of 26.95% and a return on equity of 39.90%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the business earned $4.03 EPS. Sell-side analysts expect that Sociedad Química y Minera de Chile S.A. will post 2.34 earnings per share for the current fiscal year.

Sociedad Química y Minera de Chile Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be paid a dividend of $0.2134 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.85 annualized dividend and a yield of 1.80%. Sociedad Química y Minera de Chile’s dividend payout ratio is presently 7.80%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SQM shares. The Goldman Sachs Group decreased their price objective on Sociedad Química y Minera de Chile from $54.50 to $46.50 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. StockNews.com downgraded shares of Sociedad Química y Minera de Chile from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. dropped their target price on Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. BMO Capital Markets dropped their price objective on Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Finally, TheStreet lowered shares of Sociedad Química y Minera de Chile from a “b-” rating to a “c” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Sociedad Química y Minera de Chile presently has an average rating of “Hold” and an average price target of $65.18.

Get Our Latest Stock Analysis on SQM

Sociedad Química y Minera de Chile Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Sociedad Química y Minera de Chile (NYSE:SQM)

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