Chemical and Mining Society of Chile S.A. (NYSE:SQM – Get Rating) declared a quarterly dividend on Monday, May 23rd, Wall Street Journal reports. Shareholders of record on Friday, June 3rd will be paid a dividend of 2.7872 per share by the basic materials company on Tuesday, June 21st. This represents a $11.15 dividend on an annualized basis and a yield of 10.98%. The ex-dividend date of this dividend is Thursday, June 2nd. This is an increase from Sociedad Química y Minera de Chile’s previous quarterly dividend of $0.06.
NYSE SQM traded up $6.03 on Monday, reaching $101.49. The stock had a trading volume of 2,381,889 shares, compared to its average volume of 1,733,756. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.62 and a quick ratio of 3.43. The firm has a fifty day moving average of $81.17 and a two-hundred day moving average of $67.03. Sociedad Química y Minera de Chile has a 1-year low of $40.58 and a 1-year high of $101.58. The company has a market cap of $26.71 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 0.38 and a beta of 0.77.
Sociedad Química y Minera de Chile (NYSE:SQM – Get Rating) last released its earnings results on Wednesday, March 2nd. The basic materials company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.16. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.01 billion. Sociedad Química y Minera de Chile had a return on equity of 40.29% and a net margin of 30.17%. Research analysts predict that Sociedad Química y Minera de Chile will post 6.11 EPS for the current fiscal year.
A number of analysts have recently weighed in on SQM shares. Morgan Stanley downgraded Sociedad Química y Minera de Chile from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $58.00 to $70.00 in a research report on Thursday, March 31st. Loop Capital initiated coverage on Sociedad Química y Minera de Chile in a research report on Monday, January 24th. They set a “buy” rating and a $102.00 target price for the company. BMO Capital Markets upped their price objective on Sociedad Química y Minera de Chile from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, March 4th. Deutsche Bank Aktiengesellschaft increased their target price on Sociedad Química y Minera de Chile from $98.00 to $122.00 in a research report on Friday. Finally, Citigroup increased their target price on Sociedad Química y Minera de Chile from $103.00 to $121.00 and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $81.44.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC acquired a new stake in Sociedad Química y Minera de Chile during the first quarter worth approximately $47,000. Stonebridge Capital Advisors LLC grew its stake in Sociedad Química y Minera de Chile by 84.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 2,300 shares of the basic materials company’s stock worth $197,000 after purchasing an additional 1,053 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in Sociedad Química y Minera de Chile during the first quarter worth approximately $212,000. qPULA Trading Management LP acquired a new stake in Sociedad Química y Minera de Chile during the first quarter worth approximately $250,000. Finally, Ergoteles LLC acquired a new stake in Sociedad Química y Minera de Chile during the first quarter worth approximately $273,000. 19.99% of the stock is owned by institutional investors and hedge funds.
About Chemical and Mining Society of Chile (GetRating)
Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its 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.
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