Edmond DE Rothschild Holding S.A. Continues to Hold Position in Methanex Corporation (MEOH)
Edmond DE Rothschild Holding S.A. maintained its position in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,000 shares of the specialty chemicals company’s stock at the end of the 2nd quarter. Edmond DE Rothschild Holding S.A.’s holdings in Methanex Corporation were worth $574,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in MEOH. DekaBank Deutsche Girozentrale purchased a new stake in Methanex Corporation in the 1st quarter worth approximately $310,000. US Bancorp DE lifted its position in Methanex Corporation by 13.1% in the 1st quarter. US Bancorp DE now owns 26,248 shares of the specialty chemicals company’s stock worth $1,231,000 after buying an additional 3,031 shares in the last quarter. Comerica Bank lifted its position in Methanex Corporation by 3.1% in the 1st quarter. Comerica Bank now owns 5,892 shares of the specialty chemicals company’s stock worth $264,000 after buying an additional 178 shares in the last quarter. World Asset Management Inc lifted its position in Methanex Corporation by 0.8% in the 1st quarter. World Asset Management Inc now owns 5,594 shares of the specialty chemicals company’s stock worth $262,000 after buying an additional 46 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Methanex Corporation in the 1st quarter worth approximately $4,209,000. Institutional investors own 81.91% of the company’s stock.
Methanex Corporation (NASDAQ:MEOH) opened at 52.25 on Tuesday. The company has a market cap of $4.50 billion, a P/E ratio of 20.33 and a beta of 1.74. The company has a 50-day moving average of $47.14 and a 200 day moving average of $45.17. Methanex Corporation has a one year low of $28.77 and a one year high of $53.35.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.85 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by ($0.23). Methanex Corporation had a return on equity of 12.43% and a net margin of 8.92%. The business had revenue of $669.00 million for the quarter, compared to analyst estimates of $772.41 million. During the same quarter in the previous year, the company posted ($0.34) EPS. The business’s revenue for the quarter was up 42.9% compared to the same quarter last year. Equities research analysts predict that Methanex Corporation will post $3.86 EPS for the current year.
Methanex Corporation announced that its board has initiated a stock buyback program on Wednesday, July 26th that permits the company to buyback 1,660,000 outstanding shares. This buyback authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Saturday, September 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.30%. The ex-dividend date is Thursday, September 14th. Methanex Corporation’s dividend payout ratio (DPR) is currently 47.81%.
MEOH has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Methanex Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Citigroup Inc. reiterated a “neutral” rating and issued a $45.00 target price (down previously from $50.00) on shares of Methanex Corporation in a research report on Thursday, June 1st. BidaskClub upgraded shares of Methanex Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. ValuEngine upgraded shares of Methanex Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Methanex Corporation in a research report on Friday, June 30th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $57.93.
Methanex Corporation Company 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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