Manning & Napier Advisors LLC Purchases Shares of 3,311,191 Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Manning & Napier Advisors LLC purchased a new stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,311,191 shares of the basic materials company’s stock, valued at approximately $120,395,000. Sociedad Química y Minera de Chile comprises 1.4% of Manning & Napier Advisors LLC’s holdings, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SQM. MFA Wealth Advisors LLC grew its position in shares of Sociedad Química y Minera de Chile by 4.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 7,006 shares of the basic materials company’s stock valued at $292,000 after acquiring an additional 313 shares during the period. Saturna Capital Corp grew its position in shares of Sociedad Química y Minera de Chile by 0.8% in the 3rd quarter. Saturna Capital Corp now owns 49,407 shares of the basic materials company’s stock valued at $2,059,000 after acquiring an additional 407 shares during the period. Signaturefd LLC grew its position in shares of Sociedad Química y Minera de Chile by 21.3% in the 3rd quarter. Signaturefd LLC now owns 2,500 shares of the basic materials company’s stock valued at $104,000 after acquiring an additional 439 shares during the period. AQR Capital Management LLC grew its position in shares of Sociedad Química y Minera de Chile by 11.6% in the 2nd quarter. AQR Capital Management LLC now owns 5,249 shares of the basic materials company’s stock valued at $214,000 after acquiring an additional 544 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Sociedad Química y Minera de Chile by 5.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,020 shares of the basic materials company’s stock valued at $449,000 after acquiring an additional 591 shares during the period. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SQM shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Scotiabank reduced their target price 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 report on Monday, November 25th. JPMorgan Chase & Co. downgraded shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $44.00 in a report on Friday, October 11th. Finally, StockNews.com raised shares of Sociedad Química y Minera de Chile to a “sell” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Sociedad Química y Minera de Chile presently has a consensus rating of “Hold” and an average target price of $45.56.

Sociedad Química y Minera de Chile Trading Up 1.4 %

Shares of NYSE:SQM traded up $0.56 during mid-day trading on Wednesday, reaching $39.51. 89,036 shares of the company’s stock were exchanged, compared to its average volume of 1,019,767. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of -35.60, a PEG ratio of 5.20 and a beta of 1.03. Sociedad Química y Minera de Chile S.A. has a twelve month low of $32.24 and a twelve month high of $51.90. The business’s fifty day moving average price is $38.49 and its 200-day moving average price is $38.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.05 and a current ratio of 2.94.

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.