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

Quantbot Technologies LP acquired a new stake in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 43,629 shares of the specialty chemicals company’s stock, valued at approximately $2,013,000. Quantbot Technologies LP owned approximately 0.06% of Methanex as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio boosted its holdings in Methanex by 0.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 82,381 shares of the specialty chemicals company’s stock worth $4,892,000 after buying an additional 225 shares during the last quarter. AMG National Trust Bank raised its holdings in shares of Methanex by 4.8% during the first quarter. AMG National Trust Bank now owns 8,127 shares of the specialty chemicals company’s stock valued at $484,000 after acquiring an additional 374 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Methanex by 33.3% in the third quarter. NewEdge Advisors LLC now owns 2,000 shares of the specialty chemicals company’s stock valued at $80,000 after acquiring an additional 500 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Methanex by 61.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company’s stock valued at $85,000 after acquiring an additional 812 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Methanex by 8.2% in the fourth quarter. Franklin Resources Inc. now owns 10,706 shares of the specialty chemicals company’s stock worth $425,000 after acquiring an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Stock Down 1.7%

Shares of MEOH opened at $59.07 on Tuesday. Methanex Corporation has a 52-week low of $32.00 and a 52-week high of $66.75. The company has a quick ratio of 1.35, a current ratio of 2.07 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $52.85 and a two-hundred day simple moving average of $55.44. The company has a market capitalization of $4.57 billion, a PE ratio of 57.35 and a beta of 0.58.

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

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, September 16th. Methanex’s payout ratio is presently 71.84%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MEOH. Scotiabank boosted their price target on Methanex from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Canadian Imperial Bank of Commerce upgraded Methanex from a “neutral” rating to a “sector outperform” rating and raised their price objective for the company from $69.00 to $71.00 in a report on Monday, July 20th. Royal Bank Of Canada lowered 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 note on Wednesday, July 1st. UBS Group upped their target price on shares of Methanex from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Methanex from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.56.

Methanex 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).