Alberta Investment Management Corp Invests $19.26 Million in Methanex Corporation $MEOH

Alberta Investment Management Corp acquired a new stake in Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 417,301 shares of the specialty chemicals company's stock, valued at approximately $19,258,000. Alberta Investment Management Corp owned approximately 0.54% of Methanex at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC purchased a new position in Methanex during the 2nd quarter valued at about $50,000. Clearstead Advisors LLC grew its position in Methanex by 336.2% in the 4th quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company's stock valued at $71,000 after acquiring an additional 1,375 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Methanex by 61.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company's stock worth $85,000 after purchasing an additional 812 shares during the period. State of Wyoming purchased a new stake in Methanex during the second quarter worth about $153,000. Finally, Fifth Third Bancorp lifted its position in shares of Methanex by 1,087.3% during the first quarter. Fifth Third Bancorp now owns 3,823 shares of the specialty chemicals company's stock worth $228,000 after purchasing an additional 3,501 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered shares of Methanex from an "overweight" rating to a "neutral" rating and raised their price objective for the company from $56.00 to $65.00 in a research note on Friday, May 1st. National Bank Financial set a $70.00 target price on shares of Methanex and gave the stock an "outperform" rating in a research note on Monday, July 13th. Wall Street Zen lowered shares of Methanex from a "strong-buy" rating to a "buy" rating in a report on Saturday. Zacks Research cut shares of Methanex from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. Finally, Canadian Imperial Bank of Commerce upgraded shares of Methanex from a "neutral" rating to a "sector outperform" rating and boosted their price target for the stock from $69.00 to $71.00 in a research note on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Methanex presently has an average rating of "Moderate Buy" and a consensus target price of $68.56.

Methanex Price Performance

Shares of NASDAQ:MEOH opened at $56.12 on Monday. The firm has a 50 day simple moving average of $52.85 and a 200-day simple moving average of $55.01. Methanex Corporation has a twelve month low of $32.00 and a twelve month high of $66.75. The company has a current ratio of 2.07, a quick ratio of 1.35 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $4.34 billion, a PE ratio of 54.49 and a beta of 0.58.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.87 EPS for the quarter, missing the consensus estimate of $4.00 by ($0.13). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.43 billion. Methanex had a return on equity of 11.35% and a net margin of 2.07%.Methanex's revenue was up 75.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. On average, equities analysts predict that Methanex Corporation will post 8.62 EPS for the current fiscal year.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.185 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.3%. Methanex's dividend payout ratio is 71.84%.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world's largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company's core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).

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