Highbridge Capital Management LLC reduced its holdings in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 42.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,947 shares of the specialty chemicals company’s stock after selling 58,500 shares during the quarter. Highbridge Capital Management LLC owned 0.10% of Methanex worth $4,071,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Wace North America L.P. raised its holdings in shares of Methanex by 76.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 101,307 shares of the specialty chemicals company’s stock worth $4,458,000 after purchasing an additional 43,776 shares in the last quarter. Intact Investment Management Inc. raised its holdings in shares of Methanex by 43.4% in the 2nd quarter. Intact Investment Management Inc. now owns 64,800 shares of the specialty chemicals company’s stock worth $3,696,000 after purchasing an additional 19,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Methanex by 17.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,546 shares of the specialty chemicals company’s stock worth $2,008,000 after purchasing an additional 6,822 shares in the last quarter. AHL Partners LLP bought a new stake in shares of Methanex in the 2nd quarter worth approximately $300,000. Finally, AGF Investments Inc. raised its holdings in shares of Methanex by 103.7% in the 2nd quarter. AGF Investments Inc. now owns 409,320 shares of the specialty chemicals company’s stock worth $18,080,000 after purchasing an additional 208,413 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.
Shares of Methanex Co. (NASDAQ:MEOH) opened at $57.25 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.17. The company has a market cap of $4,692.02, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.00 and a beta of 1.82. Methanex Co. has a 1 year low of $39.47 and a 1 year high of $58.25.
Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company had revenue of $720.00 million during the quarter, compared to the consensus estimate of $614.19 million. Methanex had a net margin of 9.81% and a return on equity of 16.02%. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) earnings per share. sell-side analysts predict that Methanex Co. will post 3.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 31st. Shareholders of record on Sunday, December 17th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, December 14th. Methanex’s dividend payout ratio is 39.87%.
A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated a “hold” rating on shares of Methanex in a report on Friday, August 25th. Zacks Investment Research upgraded shares of Methanex from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. TD Securities boosted their price target on shares of Methanex to $71.00 and gave the company a “buy” rating in a report on Monday, September 18th. Cowen restated an “outperform” rating and set a $58.00 price target (up previously from $55.00) on shares of Methanex in a report on Monday, October 9th. Finally, Scotiabank restated a “sector perform” rating and set a $67.00 price target on shares of Methanex in a report on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.53.
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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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