Mackenzie Financial Corp Has $61.02 Million Stake in Methanex Corporation $MEOH

Mackenzie Financial Corp lowered its holdings in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,535,187 shares of the specialty chemicals company’s stock after selling 33,077 shares during the period. Mackenzie Financial Corp’s holdings in Methanex were worth $61,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MEOH. Russell Investments Group Ltd. grew its position in Methanex by 25.2% during the third quarter. Russell Investments Group Ltd. now owns 59,700 shares of the specialty chemicals company’s stock worth $2,374,000 after buying an additional 12,018 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Methanex by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,091,093 shares of the specialty chemicals company’s stock worth $43,383,000 after acquiring an additional 7,031 shares during the period. Aviso Financial Inc. raised its holdings in Methanex by 33.5% in the 3rd quarter. Aviso Financial Inc. now owns 89,312 shares of the specialty chemicals company’s stock valued at $3,551,000 after acquiring an additional 22,401 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Methanex by 87.1% during the 3rd quarter. TD Asset Management Inc now owns 689,461 shares of the specialty chemicals company’s stock valued at $27,417,000 after acquiring an additional 320,964 shares during the period. Finally, Granite Investment Partners LLC lifted its position in shares of Methanex by 39.6% during the 3rd quarter. Granite Investment Partners LLC now owns 335,273 shares of the specialty chemicals company’s stock valued at $13,330,000 after acquiring an additional 95,159 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.

Analyst Upgrades and Downgrades

MEOH has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price target on Methanex from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Scotiabank reaffirmed an “outperform” rating on shares of Methanex in a research report on Wednesday, January 21st. Jefferies Financial Group increased their price objective on shares of Methanex from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Zacks Research raised shares of Methanex from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 27th. Finally, Raymond James Financial boosted their target price on shares of Methanex from $45.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.90.

Methanex Price Performance

Methanex stock opened at $58.06 on Friday. The stock has a 50-day moving average price of $48.56 and a two-hundred day moving average price of $41.32. Methanex Corporation has a 12 month low of $25.46 and a 12 month high of $59.09. The company has a market capitalization of $4.49 billion, a PE ratio of 51.38 and a beta of 0.65. The company has a current ratio of 2.06, a quick ratio of 1.37 and a debt-to-equity ratio of 0.99.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Thursday, March 5th. The specialty chemicals company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.95). The firm had revenue of $968.81 million for the quarter, compared to the consensus estimate of $1.03 billion. Methanex had a return on equity of 5.35% and a net margin of 2.21%.The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. Analysts expect that Methanex Corporation will post 4.32 EPS for the current year.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 17th. Methanex’s payout ratio is presently 65.49%.

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).