Hartree Partners LP Has $4.95 Million Stake in Methanex Co. (NASDAQ:MEOH)

Hartree Partners LP lessened its stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 20.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,038 shares of the specialty chemicals company’s stock after selling 25,962 shares during the quarter. Methanex comprises approximately 1.8% of Hartree Partners LP’s holdings, making the stock its 18th largest position. Hartree Partners LP owned about 0.15% of Methanex worth $4,946,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Methanex by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company’s stock worth $105,779,000 after purchasing an additional 37,658 shares during the last quarter. Boston Partners grew its position in Methanex by 36.0% in the 4th quarter. Boston Partners now owns 989,534 shares of the specialty chemicals company’s stock worth $49,393,000 after purchasing an additional 262,087 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Methanex by 4,776.7% during the 4th quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company’s stock worth $44,960,000 after purchasing an additional 881,823 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Methanex during the fourth quarter valued at about $38,301,000. Finally, Norges Bank acquired a new stake in Methanex during the fourth quarter worth about $34,119,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MEOH shares. UBS Group lifted their price objective on Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, February 7th. CIBC reaffirmed an “outperform” rating on shares of Methanex in a report on Monday, February 3rd. Scotiabank lowered Methanex from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $66.00 to $53.00 in a research report on Monday, March 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a report on Friday, January 31st. Finally, Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.63.

Methanex Trading Down 1.9 %

MEOH opened at $35.32 on Friday. Methanex Co. has a twelve month low of $35.08 and a twelve month high of $56.43. The firm has a market cap of $2.38 billion, a PE ratio of 15.29 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The firm’s fifty day moving average is $44.24 and its two-hundred day moving average is $44.17.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Equities research analysts anticipate that Methanex Co. will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.185 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.10%. Methanex’s dividend payout ratio (DPR) is 32.03%.

Methanex Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.