Allianz Asset Management GmbH reduced its stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 31.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 545,600 shares of the specialty chemicals company’s stock after selling 249,800 shares during the quarter. Allianz Asset Management GmbH owned 0.65% of Methanex worth $27,353,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in MEOH. Geode Capital Management LLC increased its position in shares of Methanex by 12.0% in the first 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 in the last quarter. NGAM Advisors L.P. increased its position in shares of Methanex by 1.5% in the second quarter. NGAM Advisors L.P. now owns 22,054 shares of the specialty chemicals company’s stock valued at $971,000 after buying an additional 333 shares in the last quarter. Sei Investments Co. increased its position in shares of Methanex by 1.5% in the second quarter. Sei Investments Co. now owns 59,413 shares of the specialty chemicals company’s stock valued at $2,617,000 after buying an additional 872 shares in the last quarter. Korea Investment CORP increased its position in shares of Methanex by 1.8% in the second quarter. Korea Investment CORP now owns 5,659 shares of the specialty chemicals company’s stock valued at $249,000 after buying an additional 101 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Methanex by 86.5% in the second quarter. Canada Pension Plan Investment Board now owns 248,358 shares of the specialty chemicals company’s stock valued at $10,948,000 after buying an additional 115,224 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.
MEOH has been the subject of several research reports. TD Securities boosted their price target on Methanex from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Jefferies Group reiterated a “buy” rating and set a $60.00 price target on shares of Methanex in a research report on Thursday, October 19th. Zacks Investment Research upgraded Methanex from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Tuesday, October 3rd. BMO Capital Markets reissued a “buy” rating and set a $57.00 price objective on shares of Methanex in a research note on Friday, November 24th. Finally, ValuEngine lowered Methanex from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Methanex currently has an average rating of “Buy” and an average price target of $56.87.
Shares of Methanex Co. (MEOH) traded up $2.20 during midday trading on Tuesday, reaching $62.75. The company’s stock had a trading volume of 569,471 shares, compared to its average volume of 448,200. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. Methanex Co. has a 12 month low of $39.47 and a 12 month high of $63.10. The stock has a market cap of $5,070.00, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 1.06 and a beta of 1.82.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Methanex had a return on equity of 16.02% and a net margin of 9.81%. The business had revenue of $720.00 million for the quarter, compared to the consensus estimate of $614.19 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. analysts anticipate that Methanex Co. will post 3.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 31st. Stockholders of record on Sunday, December 17th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.91%. Methanex’s payout ratio is currently 39.09%.
Methanex 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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