Cubist Systematic Strategies LLC Grows Holdings in Methanex Co. (NASDAQ:MEOH)

Cubist Systematic Strategies LLC raised its stake in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 155.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,155 shares of the specialty chemicals company's stock after acquiring an additional 14,106 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Methanex were worth $1,156,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Parkside Financial Bank & Trust boosted its position in Methanex by 39.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock valued at $101,000 after buying an additional 573 shares in the last quarter. Blue Trust Inc. boosted its position in Methanex by 15.0% in the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock valued at $142,000 after buying an additional 371 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Methanex in the fourth quarter valued at approximately $166,000. Signaturefd LLC lifted its holdings in shares of Methanex by 15.0% during the fourth quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company's stock worth $172,000 after purchasing an additional 450 shares during the period. Finally, Neuberger Berman Group LLC acquired a new position in shares of Methanex during the fourth quarter worth $203,000. 73.49% of the stock is owned by institutional investors.

Methanex Trading Up 0.2%

MEOH stock traded up $0.08 during midday trading on Friday, hitting $33.57. The stock had a trading volume of 278,620 shares, compared to its average volume of 390,068. The firm has a market cap of $2.26 billion, a P/E ratio of 14.53 and a beta of 0.93. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. Methanex Co. has a 1-year low of $25.46 and a 1-year high of $56.43. The business has a fifty day moving average price of $32.26 and a two-hundred day moving average price of $41.50.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. Methanex had a net margin of 4.41% and a return on equity of 10.97%. The firm had revenue of $857.90 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The business's revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, June 16th. Methanex's payout ratio is presently 24.83%.

Wall Street Analysts Forecast Growth

MEOH has been the topic of a number of recent research reports. StockNews.com lowered shares of Methanex from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Royal Bank of Canada cut their price target on shares of Methanex from $55.00 to $50.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. CIBC cut their price target on shares of Methanex from $47.00 to $44.00 and set an "outperformer" rating on the stock in a report on Monday, May 5th. UBS Group cut their price target on shares of Methanex from $51.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Raymond James cut their price target on shares of Methanex from $62.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Methanex Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.