Headlands Technologies LLC lifted its holdings in Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 530.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,267 shares of the specialty chemicals company's stock after purchasing an additional 24,627 shares during the quarter. Headlands Technologies LLC's holdings in Methanex were worth $1,351,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new stake in Methanex in the 2nd quarter valued at $50,000. Clearstead Advisors LLC boosted its stake in shares of Methanex by 336.2% during the 4th quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company's stock worth $71,000 after buying an additional 1,375 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Methanex by 61.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company's stock valued at $85,000 after acquiring an additional 812 shares in the last quarter. State of Wyoming acquired a new stake in shares of Methanex in the second quarter valued at about $153,000. Finally, Fifth Third Bancorp raised its holdings in 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 acquiring an additional 3,501 shares in the last quarter. Institutional investors and hedge funds own 73.49% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Scotiabank increased their price objective on Methanex from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. Canadian Imperial Bank of Commerce upgraded shares of Methanex from a "neutral" rating to a "sector outperform" rating and boosted their target price for the stock from $69.00 to $71.00 in a report on Monday, July 20th. Zacks Research downgraded shares of Methanex from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. Royal Bank Of Canada lowered their price objective on shares of Methanex from $70.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Methanex from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $68.56.
View Our Latest Stock Analysis on Methanex
Methanex Trading Up 2.2%
Shares of Methanex stock opened at $58.95 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.07 and a quick ratio of 1.35. The business has a fifty day simple moving average of $53.23 and a two-hundred day simple moving average of $55.77. Methanex Corporation has a 1 year low of $32.00 and a 1 year high of $66.75. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 57.23 and a beta of 0.58.
Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.43 billion. Methanex had a net margin of 2.07% and a return on equity of 11.35%. Methanex's revenue for the quarter was up 75.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Research analysts forecast that Methanex Corporation will post 8.6 EPS for the current year.
Methanex Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.185 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.74 dividend on an annualized basis and a yield of 1.3%. Methanex's dividend payout ratio is 71.84%.
About Methanex
(
Free Report)
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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