Methanex Co. (NASDAQ:MEOH) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 269,129 shares of the specialty chemicals company’s stock after selling 23,924 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.35% of Methanex worth $9,555,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MEOH. JPMorgan Chase & Co. lifted its holdings in shares of Methanex by 241.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 637,874 shares of the specialty chemicals company’s stock valued at $28,704,000 after buying an additional 451,239 shares during the period. Renaissance Technologies LLC increased its stake in shares of Methanex by 53.3% in the 2nd quarter. Renaissance Technologies LLC now owns 765,548 shares of the specialty chemicals company’s stock valued at $34,801,000 after purchasing an additional 266,200 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Methanex by 27.5% in the 2nd quarter. Mackenzie Financial Corp now owns 1,227,240 shares of the specialty chemicals company’s stock valued at $55,790,000 after purchasing an additional 264,979 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. increased its stake in shares of Methanex by 42.4% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 883,948 shares of the specialty chemicals company’s stock valued at $40,215,000 after purchasing an additional 263,340 shares in the last quarter. Finally, Becker Capital Management Inc. increased its stake in shares of Methanex by 55.1% in the 2nd quarter. Becker Capital Management Inc. now owns 471,357 shares of the specialty chemicals company’s stock valued at $21,428,000 after purchasing an additional 167,418 shares in the last quarter. 64.46% of the stock is owned by institutional investors and hedge funds.

NASDAQ:MEOH traded up $0.17 during trading hours on Monday, hitting $41.22. 29,460 shares of the stock were exchanged, compared to its average volume of 427,013. Methanex Co. has a 52-week low of $30.25 and a 52-week high of $65.20. The firm’s fifty day moving average price is $36.39 and its 200 day moving average price is $40.59. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 1.38. The company has a market cap of $3.10 billion, a P/E ratio of 6.01, a P/E/G ratio of 2.66 and a beta of 1.81.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.31). Methanex had a return on equity of 8.64% and a net margin of 7.73%. The firm had revenue of $650.00 million for the quarter, compared to analysts’ expectations of $634.75 million. During the same quarter last year, the firm posted $1.92 earnings per share. Methanex’s quarterly revenue was down 37.7% on a year-over-year basis. Equities analysts expect that Methanex Co. will post 0.85 EPS for the current fiscal year.

Several equities analysts recently weighed in on the company. TD Securities cut their price target on Methanex from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada upgraded Methanex from a “sector perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Wednesday, October 2nd. ValuEngine upgraded Methanex from a “hold” rating to a “buy” rating in a research note on Friday. TheStreet lowered Methanex from a “b-” rating to a “c+” rating in a research note on Friday, August 16th. Finally, Barclays cut their price target on Methanex from $53.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $48.92.

Methanex Profile

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.

See Also: Leveraged Buyout (LBO)

Institutional Ownership by Quarter for Methanex (NASDAQ:MEOH)

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