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

Manning & Napier Advisors LLC acquired a new position in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,311,191 shares of the basic materials company’s stock, valued at approximately $120,395,000. Sociedad Química y Minera de Chile makes up 1.4% of Manning & Napier Advisors LLC’s holdings, making the stock its 23rd largest position. Manning & Napier Advisors LLC owned about 1.16% of Sociedad Química y Minera de Chile as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of SQM. Concentric Capital Strategies LP acquired a new stake in shares of Sociedad Química y Minera de Chile during the third quarter worth approximately $4,213,000. KBC Group NV increased its holdings in shares of Sociedad Química y Minera de Chile by 908.3% during the third quarter. KBC Group NV now owns 64,992 shares of the basic materials company’s stock worth $2,709,000 after buying an additional 58,546 shares in the last quarter. abrdn plc increased its holdings in shares of 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 in the last quarter. Mirabella Financial Services LLP acquired a new stake in shares of Sociedad Química y Minera de Chile during the third quarter worth approximately $1,116,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of 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. Institutional investors and hedge funds own 12.41% of the company’s stock.

Sociedad Química y Minera de Chile Trading Up 1.4 %

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

Wall Street Analysts Forecast Growth

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

Sociedad Química y Minera de Chile 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.