Dorsey Wright & Associates Buys 30,403 Shares of Sociedad Quimica y Minera de Chile (SQM)

Dorsey Wright & Associates increased its stake in shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) by 10.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 308,279 shares of the basic materials company’s stock after acquiring an additional 30,403 shares during the period. Sociedad Quimica y Minera de Chile accounts for about 2.2% of Dorsey Wright & Associates’ holdings, making the stock its 5th largest position. Dorsey Wright & Associates’ holdings in Sociedad Quimica y Minera de Chile were worth $14,781,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of SQM. Financial Gravity Wealth Inc. acquired a new position in shares of Sociedad Quimica y Minera de Chile during the 1st quarter valued at about $104,000. US Bancorp DE increased its holdings in shares of Sociedad Quimica y Minera de Chile by 72.4% during the 1st quarter. US Bancorp DE now owns 2,284 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 959 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Sociedad Quimica y Minera de Chile by 2,518.4% during the 1st quarter. IFP Advisors Inc now owns 2,566 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 2,468 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Sociedad Quimica y Minera de Chile during the 4th quarter valued at about $202,000. Finally, BB&T Securities LLC acquired a new position in shares of Sociedad Quimica y Minera de Chile during the 1st quarter valued at about $227,000. 10.33% of the stock is currently owned by institutional investors and hedge funds.

SQM opened at $47.92 on Friday. The company has a market capitalization of $12.50 billion, a price-to-earnings ratio of 29.40 and a beta of 1.00. The company has a current ratio of 3.22, a quick ratio of 2.02 and a debt-to-equity ratio of 0.46. Sociedad Quimica y Minera de Chile has a 12-month low of $33.81 and a 12-month high of $64.20.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last released its earnings results on Thursday, May 24th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.01). The business had revenue of $518.70 million during the quarter, compared to analyst estimates of $522.50 million. Sociedad Quimica y Minera de Chile had a net margin of 20.32% and a return on equity of 19.48%. research analysts expect that Sociedad Quimica y Minera de Chile will post 1.75 EPS for the current fiscal year.

The company also recently disclosed a special dividend, which was paid on Monday, June 25th. Shareholders of record on Monday, June 11th were given a $0.4305 dividend. The ex-dividend date was Friday, June 8th. This represents a dividend yield of 1.66%. This is an increase from Sociedad Quimica y Minera de Chile’s previous special dividend of $0.13. Sociedad Quimica y Minera de Chile’s dividend payout ratio (DPR) is currently 67.48%.

A number of brokerages have recently commented on SQM. Zacks Investment Research raised Sociedad Quimica y Minera de Chile from a “sell” rating to a “hold” rating in a report on Wednesday, May 23rd. HSBC raised Sociedad Quimica y Minera de Chile from a “reduce” rating to a “hold” rating in a report on Thursday, March 8th. UBS Group raised Sociedad Quimica y Minera de Chile from an “underperform” rating to a “market perform” rating in a report on Thursday, May 24th. Finally, ValuEngine lowered Sociedad Quimica y Minera de Chile from a “strong-buy” rating to a “buy” rating in a report on Friday, June 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Sociedad Quimica y Minera de Chile has a consensus rating of “Hold” and an average target price of $61.40.

About Sociedad Quimica y Minera de Chile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services. The company offers specialty plant nutrients, such as potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers for crops, including vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

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Institutional Ownership by Quarter for Sociedad Quimica y Minera de Chile (NYSE:SQM)

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