Exencial Wealth Advisors LLC Invests $826,000 in Methanex Corporation (NASDAQ:MEOH)

Key Points

• Exencial Wealth Advisors LLC has invested approximately $826,000 in Methanex Corporation, acquiring 23,534 shares during the first quarter.
• Methanex recently announced a quarterly dividend of $0.185 per share, payable on September 30, representing an annualized dividend of $0.74 and a yield of 2.3%.
• The company's latest quarterly earnings report showed an EPS of $0.97, exceeding analysts' expectations of $0.42, despite a year-over-year revenue decline of 13.4%.

Exencial Wealth Advisors LLC bought a new stake in shares of Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,534 shares of the specialty chemicals company's stock, valued at approximately $826,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alberta Investment Management Corp boosted its position in Methanex by 1,499.0% during the first quarter. Alberta Investment Management Corp now owns 817,100 shares of the specialty chemicals company's stock worth $28,671,000 after purchasing an additional 766,000 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Methanex during the 4th quarter worth approximately $26,835,000. Bank of New York Mellon Corp lifted its position in shares of Methanex by 41.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,276,649 shares of the specialty chemicals company's stock valued at $44,798,000 after buying an additional 376,365 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Methanex during the 4th quarter valued at approximately $14,327,000. Finally, Mackenzie Financial Corp grew its stake in Methanex by 26.6% in the 4th quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company's stock valued at $53,770,000 after acquiring an additional 226,349 shares during the period. Hedge funds and other institutional investors own 73.49% of the company's stock.

Methanex Trading Down 2.8%

MEOH opened at $32.53 on Friday. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 9.60 and a beta of 0.93. The company's 50 day simple moving average is $34.05 and its two-hundred day simple moving average is $36.52. Methanex Corporation has a 1-year low of $25.46 and a 1-year high of $54.49. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.13 and a quick ratio of 1.43.

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

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.74 annualized dividend and a dividend yield of 2.3%. Methanex's payout ratio is presently 21.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group reduced their price objective on shares of Methanex from $51.00 to $48.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. JPMorgan Chase & Co. began coverage on shares of Methanex in a research note on Tuesday, June 10th. They set a "neutral" rating and a $33.00 target price for the company. Raymond James Financial set a $45.00 price target on shares of Methanex and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Piper Sandler set a $48.00 price objective on Methanex and gave the stock an "overweight" rating in a report on Sunday, May 18th. 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. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $44.88.

About Methanex

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.

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