Advisors Asset Management Inc. Trims Stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Advisors Asset Management Inc. lessened its position in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 29.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,281 shares of the basic materials company’s stock after selling 8,077 shares during the quarter. Advisors Asset Management Inc.’s holdings in Sociedad Química y Minera de Chile were worth $804,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SQM. O Shaughnessy Asset Management LLC increased its holdings in shares of Sociedad Química y Minera de Chile by 43.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,024 shares of the basic materials company’s stock valued at $247,000 after acquiring an additional 1,517 shares during the period. Bluefin Capital Management LLC purchased a new stake in shares of Sociedad Química y Minera de Chile in the first quarter valued at about $251,000. Confluence Investment Management LLC increased its position in Sociedad Química y Minera de Chile by 18.6% in the 2nd quarter. Confluence Investment Management LLC now owns 6,277 shares of the basic materials company’s stock valued at $256,000 after acquiring an additional 984 shares during the period. Richard P Slaughter Associates Inc raised its stake in Sociedad Química y Minera de Chile by 9.5% during the 2nd quarter. Richard P Slaughter Associates Inc now owns 30,092 shares of the basic materials company’s stock valued at $1,226,000 after acquiring an additional 2,623 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Sociedad Química y Minera de Chile by 242.5% during the 2nd quarter. SG Americas Securities LLC now owns 37,977 shares of the basic materials company’s stock worth $1,548,000 after acquiring an additional 26,889 shares during the period. Institutional investors and hedge funds own 12.41% of the company’s stock.

Sociedad Química y Minera de Chile Stock Performance

NYSE:SQM opened at $38.03 on Wednesday. Sociedad Química y Minera de Chile S.A. has a twelve month low of $32.24 and a twelve month high of $64.62. The company has a market capitalization of $10.86 billion, a P/E ratio of -34.26 and a beta of 1.03. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $39.63 and a two-hundred day moving average price of $40.52.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SQM shares. The Goldman Sachs Group raised shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research note on Friday, August 9th. Berenberg Bank began coverage on Sociedad Química y Minera de Chile in a research report on Wednesday, July 31st. They set a “hold” rating and a $35.00 target price on the stock. Jefferies Financial Group reduced their price target on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a report on Monday, August 26th. JPMorgan Chase & Co. cut Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $55.00 to $44.00 in a research report on Friday, October 11th. Finally, StockNews.com raised shares of Sociedad Química y Minera de Chile to a “sell” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Sociedad Química y Minera de Chile presently has an average rating of “Hold” and an average target price of $45.56.

About Sociedad Química y Minera de Chile

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.