Becker Capital Management Inc. lessened its position in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 0.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 303,939 shares of the specialty chemicals company’s stock after selling 2,550 shares during the period. Becker Capital Management Inc. owned about 0.39% of Methanex worth $17,282,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Methanex by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,201,920 shares of the specialty chemicals company’s stock valued at $174,171,000 after acquiring an additional 16,112 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Methanex by 120.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 103,915 shares of the specialty chemicals company’s stock worth $4,996,000 after buying an additional 56,872 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Methanex by 15.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 20,975 shares of the specialty chemicals company’s stock worth $1,010,000 after buying an additional 2,850 shares during the period. Janney Montgomery Scott LLC bought a new position in Methanex in the 4th quarter worth $453,000. Finally, Financial Gravity Companies Inc. bought a new position in Methanex in the 4th quarter worth $36,000. Institutional investors own 70.06% of the company’s stock.
Several research firms have commented on MEOH. BidaskClub downgraded shares of Methanex from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. ValuEngine cut shares of Methanex from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Royal Bank of Canada reduced their price objective on shares of Methanex from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, April 26th. Raymond James set a $80.00 price objective on shares of Methanex and gave the stock an “outperform” rating in a research report on Monday, April 29th. Finally, Barclays set a $60.00 target price on shares of Methanex and gave the stock a “hold” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $72.62.
Shares of Methanex stock traded down $0.56 during trading on Friday, hitting $44.67. 335,301 shares of the company’s stock were exchanged, compared to its average volume of 429,493. Methanex Co. has a 52-week low of $41.30 and a 52-week high of $83.23. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The stock has a market cap of $3.46 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 0.77 and a beta of 1.68.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Methanex had a net margin of 11.84% and a return on equity of 24.89%. The company had revenue of $773.00 million during the quarter, compared to analysts’ expectations of $790.00 million. During the same quarter in the previous year, the company earned $2.03 earnings per share. The firm’s revenue for the quarter was down 19.6% on a year-over-year basis. As a group, equities analysts expect that Methanex Co. will post 3.85 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, June 30th. Stockholders of record on Sunday, June 16th will be given a $0.36 dividend. This is a positive change from Methanex’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 3.22%. Methanex’s dividend payout ratio (DPR) is 19.24%.
Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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