Swiss National Bank cut its position in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 4.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 347,800 shares of the specialty chemicals company’s stock after selling 15,800 shares during the quarter. Swiss National Bank owned about 0.40% of Methanex Corporation worth $15,357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in Methanex Corporation by 37.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,594,311 shares of the specialty chemicals company’s stock valued at $158,329,000 after purchasing an additional 976,901 shares during the period. FMR LLC boosted its stake in Methanex Corporation by 30.2% in the 1st quarter. FMR LLC now owns 3,341,500 shares of the specialty chemicals company’s stock valued at $156,568,000 after purchasing an additional 774,598 shares during the period. Vanguard Group Inc. boosted its stake in Methanex Corporation by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 1,991,754 shares of the specialty chemicals company’s stock valued at $93,413,000 after purchasing an additional 83,091 shares during the period. Neuberger Berman Group LLC boosted its stake in Methanex Corporation by 21.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,598,782 shares of the specialty chemicals company’s stock valued at $70,426,000 after purchasing an additional 281,143 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in Methanex Corporation by 0.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 1,091,259 shares of the specialty chemicals company’s stock valued at $48,036,000 after purchasing an additional 9,443 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

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Several analysts recently issued reports on MEOH shares. ValuEngine upgraded Methanex Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Royal Bank Of Canada reduced their price target on Methanex Corporation from $54.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 18th. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price target on shares of Methanex Corporation in a research note on Monday, May 15th. Scotiabank set a $53.00 price target on Methanex Corporation and gave the company a “sector perform” rating in a research note on Tuesday, July 4th. Finally, BMO Capital Markets restated a “buy” rating on shares of Methanex Corporation in a research note on Friday, June 30th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Methanex Corporation currently has an average rating of “Hold” and an average target price of $56.80.

Shares of Methanex Corporation (NASDAQ:MEOH) opened at 51.30 on Tuesday. The stock’s 50 day moving average price is $46.12 and its 200-day moving average price is $45.11. The company has a market capitalization of $4.42 billion, a P/E ratio of 19.96 and a beta of 1.74. Methanex Corporation has a 52-week low of $28.77 and a 52-week high of $53.35.

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by $0.23. The company had revenue of $669 million during the quarter, compared to analysts’ expectations of $772.41 million. Methanex Corporation had a net margin of 8.92% and a return on equity of 12.43%. Methanex Corporation’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.34) earnings per share. On average, equities analysts expect that Methanex Corporation will post $3.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Saturday, September 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, September 14th. Methanex Corporation’s dividend payout ratio (DPR) is presently 47.81%.

Methanex Corporation declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 26th that authorizes the company to repurchase 1,660,000 shares. This repurchase authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Methanex Corporation Profile

Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

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Institutional Ownership by Quarter for Methanex Corporation (NASDAQ:MEOH)

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