Exencial Wealth Advisors LLC Takes Position 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 acquired a new position in shares of Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 23,534 shares of the specialty chemicals company's stock, valued at approximately $826,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its holdings in shares of Methanex by 3.4% during the fourth quarter. Ameriprise Financial Inc. now owns 11,778 shares of the specialty chemicals company's stock valued at $588,000 after purchasing an additional 383 shares during the last quarter. Value Partners Investments Inc. lifted its holdings in shares of Methanex by 7.3% during the fourth quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company's stock valued at $302,000 after purchasing an additional 411 shares during the last quarter. Nebula Research & Development LLC lifted its holdings in shares of Methanex by 4.7% during the fourth quarter. Nebula Research & Development LLC now owns 10,180 shares of the specialty chemicals company's stock valued at $508,000 after purchasing an additional 454 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Methanex by 25.7% during the first quarter. SBI Securities Co. Ltd. now owns 4,190 shares of the specialty chemicals company's stock valued at $147,000 after purchasing an additional 857 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Methanex by 1.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,134 shares of the specialty chemicals company's stock valued at $3,552,000 after purchasing an additional 965 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

Methanex Trading Up 0.5%

Shares of NASDAQ MEOH traded up $0.17 during midday trading on Tuesday, hitting $32.63. The stock had a trading volume of 114,061 shares, compared to its average volume of 557,990. The company's 50-day simple moving average is $34.07 and its 200 day simple moving average is $36.07. The firm has a market cap of $2.52 billion, a P/E ratio of 9.63 and a beta of 0.93. Methanex Corporation has a fifty-two week low of $25.46 and a fifty-two week 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 released its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.42 by $0.55. Methanex had a return on equity of 12.61% and a net margin of 7.02%. The company had revenue of $808.46 million during the quarter, compared to analysts' expectations of $835.04 million. During the same period last year, the firm earned $0.62 EPS. The business's revenue for the quarter was down 13.4% on a year-over-year basis. Research analysts anticipate that Methanex Corporation will post 4.32 EPS for the current year.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.185 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.74 annualized dividend and a yield of 2.3%. Methanex's payout ratio is currently 21.83%.

Wall Street Analysts Forecast Growth

MEOH has been the topic of several research reports. Royal Bank Of Canada raised Methanex from a "sector perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a research report on Friday, August 1st. Wall Street Zen downgraded Methanex from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Raymond James Financial set a $45.00 target price on Methanex and gave the company an "outperform" rating in a research note on Tuesday, July 15th. UBS Group reduced their price objective on Methanex from $51.00 to $48.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. initiated coverage on Methanex in a report on Tuesday, June 10th. They issued a "neutral" rating and a $33.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Methanex has an average rating of "Moderate Buy" and an average price target 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.