KBC Group NV Raises Stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

KBC Group NV lifted its position in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 76.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 114,992 shares of the basic materials company’s stock after buying an additional 50,000 shares during the period. KBC Group NV’s holdings in Sociedad Química y Minera de Chile were worth $4,181,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Concentric Capital Strategies LP acquired a new position in Sociedad Química y Minera de Chile in the 3rd quarter valued at $4,213,000. abrdn plc lifted its position in Sociedad Química y Minera de Chile by 2.7% during the third quarter. abrdn plc now owns 1,204,942 shares of the basic materials company’s stock worth $49,668,000 after buying an additional 31,955 shares during the period. Mirabella Financial Services LLP acquired a new stake in Sociedad Química y Minera de Chile in the 3rd quarter worth about $1,116,000. Allspring Global Investments Holdings LLC boosted its stake in Sociedad Química y Minera de Chile by 2.9% in the 3rd 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 during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Sociedad Química y Minera de Chile in the 3rd quarter valued at about $973,000. Institutional investors and hedge funds own 12.41% of the company’s stock.

Sociedad Química y Minera de Chile Stock Up 1.7 %

Shares of NYSE SQM opened at $40.98 on Friday. The stock has a fifty day moving average price of $38.55 and a 200 day moving average price of $38.58. The company has a market cap of $11.71 billion, a P/E ratio of -36.92, a P/E/G ratio of 5.20 and a beta of 1.03. Sociedad Química y Minera de Chile S.A. has a 12-month low of $32.24 and a 12-month high of $51.90. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74.

Analysts Set New Price Targets

Several research firms recently issued reports on SQM. Scotiabank decreased their target price on shares of Sociedad Química y Minera de Chile from $60.00 to $50.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. JPMorgan Chase & Co. cut shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $44.00 in a research note on Friday, October 11th. StockNews.com raised Sociedad Química y Minera de Chile to a “sell” rating in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Two 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 a consensus rating of “Hold” and an average price target 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.