Concentric Capital Strategies LP Buys New Holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Concentric Capital Strategies LP acquired a new stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 101,087 shares of the basic materials company’s stock, valued at approximately $4,213,000.

Other large investors have also recently made changes to their positions in the company. abrdn plc lifted its position in Sociedad Química y Minera de Chile by 2.7% in the 3rd quarter. abrdn plc now owns 1,204,942 shares of the basic materials company’s stock valued at $49,668,000 after acquiring an additional 31,955 shares in the last quarter. Van ECK Associates Corp grew its holdings in Sociedad Química y Minera de Chile by 41.6% during the second quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company’s stock worth $36,661,000 after buying an additional 264,324 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Sociedad Química y Minera de Chile by 2.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 887,342 shares of the basic materials company’s stock worth $36,984,000 after buying an additional 24,999 shares in the last quarter. Prudential PLC boosted its holdings in Sociedad Química y Minera de Chile by 18.9% during the 2nd quarter. Prudential PLC now owns 612,538 shares of the basic materials company’s stock worth $24,961,000 after acquiring an additional 97,479 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Sociedad Química y Minera de Chile by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 488,456 shares of the basic materials company’s stock worth $19,921,000 after acquiring an additional 13,756 shares in the last quarter. 12.41% of the stock is owned by institutional investors.

Sociedad Química y Minera de Chile Stock Performance

Sociedad Química y Minera de Chile stock opened at $38.46 on Monday. Sociedad Química y Minera de Chile S.A. has a fifty-two week low of $32.24 and a fifty-two week high of $64.62. The firm’s fifty day moving average price is $39.68 and its 200-day moving average price is $40.31. The stock has a market cap of $10.99 billion, a P/E ratio of -34.65 and a beta of 1.03. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.05 and a current ratio of 2.94.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SQM. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Jefferies Financial Group decreased their target price on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 26th. JPMorgan Chase & Co. downgraded shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $55.00 to $44.00 in a report on Friday, October 11th. Scotiabank reduced their price target on shares of Sociedad Química y Minera de Chile from $60.00 to $50.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. Finally, Bank of America lowered their price objective on shares of Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Sociedad Química y Minera de Chile currently has an average rating of “Hold” and a consensus target price of $45.56.

Sociedad Química y Minera de Chile 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.