AGF Investments Inc. reduced its position in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 16.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 417,697 shares of the specialty chemicals company’s stock after selling 81,435 shares during the quarter. AGF Investments Inc. owned about 0.50% of Methanex worth $25,308,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MEOH. FineMark National Bank & Trust purchased a new position in shares of Methanex in the 4th quarter valued at $253,000. ETRADE Capital Management LLC purchased a new position in shares of Methanex in the 3rd quarter valued at $241,000. FNY Partners Fund LP purchased a new position in shares of Methanex in the 4th quarter valued at $302,000. AHL Partners LLP purchased a new position in shares of Methanex in the 2nd quarter valued at $300,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Methanex by 3.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock valued at $305,000 after acquiring an additional 259 shares during the period. Institutional investors own 84.72% of the company’s stock.
Shares of Methanex Co. (MEOH) opened at $56.60 on Wednesday. Methanex Co. has a 52-week low of $39.47 and a 52-week high of $64.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.25 and a current ratio of 1.66. The company has a market capitalization of $4,750.00, a PE ratio of 15.68, a price-to-earnings-growth ratio of 0.68 and a beta of 1.72.
Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $1.70 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.51. Methanex had a return on equity of 22.72% and a net margin of 10.34%. The company had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $796.57 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The firm’s revenue was up 47.2% compared to the same quarter last year. equities analysts forecast that Methanex Co. will post 5.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, March 31st. Shareholders of record on Saturday, March 17th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.32 dividend on an annualized basis and a yield of 2.33%. This is a boost from Methanex’s previous quarterly dividend of $0.30. Methanex’s payout ratio is currently 33.24%.
A number of brokerages have recently issued reports on MEOH. Royal Bank of Canada reiterated a “hold” rating and issued a $63.00 price target on shares of Methanex in a report on Friday, December 22nd. Cowen reiterated an “outperform” rating and issued a $69.00 price target (up from $65.00) on shares of Methanex in a report on Wednesday, January 10th. Raymond James Financial raised their price objective on Methanex from $60.00 to $63.50 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. TD Securities raised their price objective on Methanex from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Finally, Scotiabank reissued a “hold” rating and issued a $67.50 price objective on shares of Methanex in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $59.00.
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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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