Methanex Corporation $MEOH Stock Holdings Increased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC significantly increased its stake in Methanex Corporation by 225,333.3% during Q1, now holding 33,815 shares valued at approximately $1.18 million.
• Methanex reported $0.97 earnings per share for the last quarter, exceeding analysts' expectations, despite a 13.4% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.185 per share, translating to an annual dividend yield of 1.9%.

Acadian Asset Management LLC grew its stake in shares of Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 225,333.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,815 shares of the specialty chemicals company's stock after buying an additional 33,800 shares during the period. Acadian Asset Management LLC owned 0.05% of Methanex worth $1,183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SVB Wealth LLC purchased a new stake in shares of Methanex in the first quarter valued at $38,000. Caitong International Asset Management Co. Ltd acquired a new position in Methanex in the first quarter valued at $55,000. Headlands Technologies LLC acquired a new position in Methanex in the first quarter valued at $82,000. Deutsche Bank AG boosted its holdings in Methanex by 19.9% in the first quarter. Deutsche Bank AG now owns 3,007 shares of the specialty chemicals company's stock valued at $106,000 after acquiring an additional 500 shares during the last quarter. Finally, State of Wyoming acquired a new position in Methanex in the fourth quarter valued at $129,000. Hedge funds and other institutional investors own 73.49% of the company's stock.

Methanex Stock Down 1.9%

Shares of NASDAQ:MEOH traded down $0.77 during trading on Friday, hitting $38.77. The company's stock had a trading volume of 368,541 shares, compared to its average volume of 391,005. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.43 and a current ratio of 2.13. Methanex Corporation has a fifty-two week low of $25.46 and a fifty-two week high of $54.49. The stock's 50-day moving average price is $35.24 and its two-hundred day moving average price is $33.94. The company has a market capitalization of $3.00 billion, a PE ratio of 11.44 and a beta of 0.87.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.42 by $0.55. The business had revenue of $808.46 million for the quarter, compared to analysts' expectations of $835.04 million. Methanex had a return on equity of 12.61% and a net margin of 7.02%.The company's revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share. As a group, sell-side analysts expect that Methanex Corporation will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 16th. Methanex's payout ratio is currently 21.83%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Zacks Research upgraded Methanex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 16th. UBS Group reduced their price objective on Methanex from $51.00 to $48.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Raymond James Financial set a $45.00 price objective on Methanex and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Scotiabank set a $50.00 price objective on Methanex and gave the stock a "sector outperform" rating in a research note on Tuesday, August 5th. Finally, CIBC boosted their price objective on Methanex from $42.00 to $44.00 and gave the stock an "outperformer" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $44.88.

Methanex Company 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.