Andra AP fonden Trims Holdings in Methanex Co. (NASDAQ:MEOH)

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Andra AP fonden trimmed its stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 8.4% during the third quarter, HoldingsChannel.com reports. The firm owned 36,100 shares of the specialty chemicals company’s stock after selling 3,300 shares during the quarter. Andra AP fonden’s holdings in Methanex were worth $1,697,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of MEOH. JPMorgan Chase & Co. grew its holdings in Methanex by 241.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 637,874 shares of the specialty chemicals company’s stock valued at $28,704,000 after buying an additional 451,239 shares in the last quarter. Renaissance Technologies LLC grew its stake in Methanex by 53.3% during the second quarter. Renaissance Technologies LLC now owns 765,548 shares of the specialty chemicals company’s stock valued at $34,801,000 after acquiring an additional 266,200 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Methanex by 27.5% during the 2nd quarter. Mackenzie Financial Corp now owns 1,227,240 shares of the specialty chemicals company’s stock worth $55,790,000 after acquiring an additional 264,979 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. increased its holdings in Methanex by 42.4% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 883,948 shares of the specialty chemicals company’s stock worth $40,215,000 after acquiring an additional 263,340 shares during the period. Finally, Becker Capital Management Inc. increased its holdings in Methanex by 55.1% during the 2nd quarter. Becker Capital Management Inc. now owns 471,357 shares of the specialty chemicals company’s stock worth $21,428,000 after acquiring an additional 167,418 shares during the period. 65.03% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have commented on MEOH. Alembic Global Advisors set a $55.00 price target on shares of Methanex and gave the company a “hold” rating in a report on Monday, August 26th. Barclays decreased their price target on shares of Methanex from $53.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. ValuEngine cut shares of Methanex from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Citigroup dropped their price objective on Methanex from $49.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, TheStreet lowered Methanex from a “b-” rating to a “c+” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $47.08.

NASDAQ MEOH opened at $34.97 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 1.38. The stock’s 50-day simple moving average is $38.10 and its two-hundred day simple moving average is $38.90. Methanex Co. has a twelve month low of $30.25 and a twelve month high of $62.97. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 5.10, a PEG ratio of 3.80 and a beta of 1.83.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.31). The firm had revenue of $650.00 million for the quarter, compared to the consensus estimate of $634.75 million. Methanex had a net margin of 7.73% and a return on equity of 8.64%. Methanex’s revenue for the quarter was down 37.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.92 earnings per share. On average, equities analysts expect that Methanex Co. will post 0.66 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Monday, December 16th. Methanex’s dividend payout ratio is currently 20.99%.

Methanex Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

See Also: Elliott Wave Theory

Want to see what other hedge funds are holding MEOH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Methanex Co. (NASDAQ:MEOH) (TSE:MX).

Institutional Ownership by Quarter for Methanex (NASDAQ:MEOH)

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