Peregrine Investment Management Inc. Makes New $5.51 Million Investment in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Peregrine Investment Management Inc. purchased a new stake in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 151,390 shares of the basic materials company’s stock, valued at approximately $5,505,000. Sociedad Química y Minera de Chile accounts for approximately 3.2% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 17th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. R Squared Ltd acquired a new position in Sociedad Química y Minera de Chile during the 4th quarter valued at about $58,000. Avior Wealth Management LLC boosted its holdings in shares of Sociedad Química y Minera de Chile by 104.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,128 shares of the basic materials company’s stock valued at $77,000 after acquiring an additional 1,085 shares in the last quarter. Signaturefd LLC increased its stake in shares of Sociedad Química y Minera de Chile by 21.3% during the third 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. Blue Trust Inc. raised its holdings in Sociedad Química y Minera de Chile by 216.6% during the third quarter. Blue Trust Inc. now owns 2,891 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 1,978 shares in the last quarter. Finally, MML Investors Services LLC acquired a new stake in Sociedad Química y Minera de Chile in the third quarter worth approximately $202,000. 12.41% of the stock is currently owned by institutional investors.

Sociedad Química y Minera de Chile Stock Down 3.8 %

SQM stock opened at $38.64 on Friday. The firm has a 50-day moving average of $38.60 and a two-hundred day moving average of $38.52. The company has a quick ratio of 2.05, a current ratio of 2.94 and a debt-to-equity ratio of 0.74. Sociedad Química y Minera de Chile S.A. has a one year low of $32.24 and a one year high of $51.90.

Analyst Ratings Changes

SQM has been the topic of a number of research reports. StockNews.com raised Sociedad Química y Minera de Chile to a “sell” rating in a research note on Thursday, November 21st. Scotiabank dropped 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 report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective 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 research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Sociedad Química y Minera de Chile has a consensus rating of “Hold” and an average price target of $45.56.

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.