Intact Investment Management Inc. Boosts Stock Holdings in Methanex Corporation (NASDAQ:MEOH)

Intact Investment Management Inc. raised its holdings in Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 45.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 373,900 shares of the specialty chemicals company's stock after purchasing an additional 116,200 shares during the period. Intact Investment Management Inc. owned 0.55% of Methanex worth $13,113,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MEOH. Bank of New York Mellon Corp increased its stake in shares of Methanex by 4,776.7% in the fourth quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company's stock worth $44,960,000 after purchasing an additional 881,823 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Methanex in the fourth quarter worth about $1,170,000. Parkside Financial Bank & Trust increased its stake in shares of Methanex by 39.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock worth $101,000 after purchasing an additional 573 shares in the last quarter. US Bancorp DE increased its stake in shares of Methanex by 35.7% in the fourth quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company's stock worth $941,000 after purchasing an additional 4,952 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Methanex in the fourth quarter worth about $166,000. Hedge funds and other institutional investors own 73.49% of the company's stock.

Methanex Trading Up 0.1%

Shares of Methanex stock opened at $37.31 on Friday. Methanex Corporation has a 1 year low of $25.46 and a 1 year high of $54.49. The firm has a market cap of $2.51 billion, a PE ratio of 12.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.17 and a quick ratio of 2.52. The company has a 50 day simple moving average of $32.53 and a two-hundred day simple moving average of $39.89.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. Methanex had a net margin of 6.00% and a return on equity of 12.45%. The business had revenue of $857.90 million during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business posted $0.65 earnings per share. Methanex's revenue for the quarter was down 2.2% on a year-over-year basis. Analysts expect that Methanex Corporation will post 4.32 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.185 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.98%. Methanex's payout ratio is 24.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group cut their price objective on shares of Methanex from $51.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Scotiabank upgraded shares of Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price objective for the company in a research report on Monday, May 5th. Barclays cut their price objective on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Raymond James Financial cut their price objective on shares of Methanex from $62.00 to $40.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada cut their price objective on shares of Methanex from $55.00 to $50.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Methanex currently has an average rating of "Moderate Buy" and an average target price of $44.88.

Methanex 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.

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