Sociedad Química y Minera de Chile (NYSE:SQM) Issues Quarterly Earnings Results

Sociedad Química y Minera de Chile (NYSE:SQM) issued its earnings results on Wednesday. The basic materials company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.84), MarketWatch Earnings reports. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.96 billion. Sociedad Química y Minera de Chile had a return on equity of 71.64% and a net margin of 34.41%. During the same quarter last year, the business posted $3.85 EPS.

Sociedad Química y Minera de Chile Stock Performance

NYSE SQM traded up $3.28 during trading on Friday, reaching $50.66. The company’s stock had a trading volume of 1,601,348 shares, compared to its average volume of 1,620,003. Sociedad Química y Minera de Chile has a 12 month low of $44.86 and a 12 month high of $101.73. The firm has a 50 day moving average price of $54.10 and a 200 day moving average price of $64.58. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 3.91, a price-to-earnings-growth ratio of 0.42 and a beta of 1.06. The company has a current ratio of 2.39, a quick ratio of 1.67 and a debt-to-equity ratio of 0.51.

Sociedad Química y Minera de Chile Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 2nd. Investors of record on Friday, January 1st were issued a dividend of $0.6094 per share. The ex-dividend date was Thursday, November 2nd. This is a positive change from Sociedad Química y Minera de Chile’s previous quarterly dividend of $0.51. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.81%. Sociedad Química y Minera de Chile’s payout ratio is presently 12.60%.

Institutional Investors Weigh In On Sociedad Química y Minera de Chile

Several institutional investors have recently made changes to their positions in SQM. Capital International Investors bought a new position in Sociedad Química y Minera de Chile during the 1st quarter worth $184,773,000. BlackRock Inc. raised its holdings in Sociedad Química y Minera de Chile by 29.6% during the 2nd quarter. BlackRock Inc. now owns 3,642,918 shares of the basic materials company’s stock worth $264,549,000 after purchasing an additional 831,423 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Sociedad Química y Minera de Chile by 44.0% in the 2nd quarter. Lazard Asset Management LLC now owns 2,445,971 shares of the basic materials company’s stock valued at $177,626,000 after purchasing an additional 747,037 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Sociedad Química y Minera de Chile by 373.7% during the second quarter. Goldman Sachs Group Inc. now owns 926,507 shares of the basic materials company’s stock worth $77,391,000 after buying an additional 730,931 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Sociedad Química y Minera de Chile by 69.7% in the first quarter. Bank of America Corp DE now owns 1,210,421 shares of the basic materials company’s stock valued at $98,117,000 after buying an additional 496,983 shares during the period. 14.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on SQM shares. StockNews.com initiated coverage on Sociedad Química y Minera de Chile in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Citigroup assumed coverage on shares of Sociedad Química y Minera de Chile in a report on Tuesday, September 12th. They issued a “buy” rating and a $85.00 price target for the company. JPMorgan Chase & Co. reduced their target price on shares of Sociedad Química y Minera de Chile from $93.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, October 5th. Bank of America reissued an “underperform” rating and issued a $59.00 price target (down previously from $69.00) on shares of Sociedad Química y Minera de Chile in a research note on Wednesday, October 18th. Finally, BMO Capital Markets reduced their price objective on Sociedad Química y Minera de Chile from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.61.

About Sociedad Química y Minera de Chile

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.