Methanex Corporation (MEOH) Shares Sold by State of Wisconsin Investment Board
State of Wisconsin Investment Board decreased its stake in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 8.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,000 shares of the specialty chemicals company’s stock after selling 8,400 shares during the period. State of Wisconsin Investment Board owned approximately 0.10% of Methanex Corporation worth $4,362,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in MEOH. Vanguard Group Inc. increased its stake in Methanex Corporation by 4.4% during 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 buying an additional 83,091 shares during the period. Geode Capital Management LLC increased its stake in Methanex Corporation by 12.0% during the 1st quarter. Geode Capital Management LLC now owns 92,660 shares of the specialty chemicals company’s stock valued at $4,326,000 after buying an additional 9,921 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new position in Methanex Corporation during the 2nd quarter valued at about $643,000. BB&T Corp increased its stake in Methanex Corporation by 0.3% during the 2nd quarter. BB&T Corp now owns 22,466 shares of the specialty chemicals company’s stock valued at $990,000 after buying an additional 66 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Methanex Corporation by 15.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,010,484 shares of the specialty chemicals company’s stock valued at $44,541,000 after buying an additional 133,052 shares during the period. 80.02% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on MEOH. Jefferies Group LLC raised their target price on shares of Methanex Corporation to $60.00 and gave the company a “buy” rating in a research note on Tuesday, September 12th. Scotiabank restated a “sector perform” rating and set a $67.00 price objective on shares of Methanex Corporation in a research report on Wednesday, October 4th. Cowen and Company restated a “buy” rating and set a $55.00 price objective on shares of Methanex Corporation in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Methanex Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Methanex Corporation in a research report on Wednesday, September 27th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $54.17.
Methanex Corporation (MEOH) opened at $50.60 on Tuesday. Methanex Corporation has a fifty-two week low of $38.35 and a fifty-two week high of $53.35. The company has a market cap of $4,234.57, a PE ratio of 15.33, a price-to-earnings-growth ratio of 0.94 and a beta of 1.80. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.83.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.55 by $0.05. Methanex Corporation had a net margin of 9.81% and a return on equity of 16.02%. The company had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $614.19 million. During the same period last year, the company posted ($0.01) earnings per share. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. sell-side analysts predict that Methanex Corporation will post 3.59 EPS for the current year.
Methanex Corporation declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 26th that permits the company to repurchase 1,660,000 shares. This repurchase authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 31st. Shareholders of record on Sunday, December 17th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, December 14th. Methanex Corporation’s payout ratio is 39.87%.
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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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