43,629 Shares in Methanex Corporation $MEOH Acquired by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 43,629 shares of the specialty chemicals company’s stock, valued at approximately $2,013,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. NewEdge Advisors LLC acquired a new position in shares of Methanex in the 2nd quarter valued at $50,000. Clearstead Advisors LLC increased its position in shares of Methanex by 336.2% during the 4th quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company’s stock worth $71,000 after purchasing an additional 1,375 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Methanex by 61.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company’s stock worth $85,000 after purchasing an additional 812 shares during the last quarter. State of Wyoming purchased a new stake in Methanex in the 2nd quarter valued at about $153,000. Finally, AXA S.A. purchased a new stake in Methanex in the 2nd quarter valued at about $166,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MEOH. Royal Bank Of Canada decreased their target price on shares of Methanex from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 1st. Wall Street Zen downgraded shares of Methanex from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. UBS Group upped their price objective on shares of Methanex from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Zacks Research cut shares of Methanex from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Scotiabank lifted their target price on shares of Methanex from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.56.

Methanex Stock Down 1.7%

Methanex stock opened at $59.07 on Tuesday. Methanex Corporation has a twelve month low of $32.00 and a twelve month high of $66.75. The stock’s fifty day simple moving average is $52.85 and its 200-day simple moving average is $55.44. The company has a current ratio of 2.07, a quick ratio of 1.35 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $4.57 billion, a P/E ratio of 57.35 and a beta of 0.58.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.00 by ($0.13). Methanex had a net margin of 2.07% and a return on equity of 11.35%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business posted $0.97 earnings per share. The company’s revenue for the quarter was up 75.0% on a year-over-year basis. As a group, equities analysts expect that Methanex Corporation will post 8.6 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.3%. Methanex’s payout ratio is currently 71.84%.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).