Swiss National Bank trimmed its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 1.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 336,100 shares of the specialty chemicals company’s stock after selling 6,600 shares during the period. Swiss National Bank’s holdings in Methanex were worth $20,380,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. AHL Partners LLP purchased a new stake in shares of Methanex in the second quarter worth about $300,000. AGF Investments Inc. raised its stake in Methanex by 21.9% in the third quarter. AGF Investments Inc. now owns 499,132 shares of the specialty chemicals company’s stock valued at $25,082,000 after purchasing an additional 89,812 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Methanex by 53.2% in the third quarter. Canada Pension Plan Investment Board now owns 380,459 shares of the specialty chemicals company’s stock valued at $19,074,000 after purchasing an additional 132,101 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Methanex by 37.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,546 shares of the specialty chemicals company’s stock valued at $3,136,000 after purchasing an additional 17,000 shares in the last quarter. Finally, Intact Investment Management Inc. raised its stake in Methanex by 81.2% in the third quarter. Intact Investment Management Inc. now owns 117,400 shares of the specialty chemicals company’s stock valued at $7,358,000 after purchasing an additional 52,600 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.
Methanex Co. (NASDAQ MEOH) opened at $57.15 on Monday. 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 cap of $4,787.49, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 0.62 and a beta of 1.73.
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, beating analysts’ consensus estimates of $1.19 by $0.51. Methanex had a net margin of 10.34% and a return on equity of 22.72%. The business had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $796.57 million. During the same period last year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 47.2% on a year-over-year basis. equities research analysts predict that Methanex Co. will post 6.11 EPS for the current fiscal year.
The firm 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. This is a boost from Methanex’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Thursday, March 15th. Methanex’s dividend payout ratio (DPR) is presently 33.90%.
A number of equities research analysts recently weighed in on the stock. Jefferies Group raised their target price on shares of Methanex to $72.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. TD Securities downgraded shares of Methanex from a “buy” rating to a “hold” rating and set a $66.00 target price on the stock. in a research note on Monday, January 8th. They noted that the move was a valuation call. Monness Crespi & Hardt raised their target price on shares of Methanex from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. BidaskClub downgraded shares of Methanex from a “buy” rating to a “hold” rating in a research note on Monday, January 15th. Finally, ValuEngine downgraded shares of Methanex from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $59.00.
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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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