Invesco Ltd. Has $7.56 Million Stake in Methanex Corporation $MEOH

Key Points

• Invesco Ltd. has reduced its stake in Methanex Corporation by 4.3%, holding approximately 215,404 shares valued at about $7.56 million as of the latest filing with the SEC.
• Methanex announced a quarterly dividend of $0.185 per share, with a yield of 2.1%, set to be paid out to shareholders on September 30th.
• Analysts have mixed ratings for Methanex, with price targets ranging from $33.00 to $50.00, indicating a consensus rating of "Moderate Buy".

Invesco Ltd. trimmed its position in shares of Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 4.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 215,404 shares of the specialty chemicals company's stock after selling 9,681 shares during the quarter. Invesco Ltd. owned approximately 0.32% of Methanex worth $7,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Methanex in the 1st quarter worth approximately $82,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Methanex during the fourth quarter valued at approximately $106,000. Deutsche Bank AG increased its position in shares of Methanex by 19.9% during the first quarter. Deutsche Bank AG now owns 3,007 shares of the specialty chemicals company's stock valued at $106,000 after purchasing an additional 500 shares during the period. State of Wyoming bought a new stake in Methanex in the fourth quarter valued at $129,000. Finally, SBI Securities Co. Ltd. grew its position in Methanex by 25.7% in the first quarter. SBI Securities Co. Ltd. now owns 4,190 shares of the specialty chemicals company's stock valued at $147,000 after acquiring an additional 857 shares during the period. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Methanex Stock Performance

MEOH opened at $35.40 on Tuesday. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 10.44 and a beta of 0.93. The business has a 50 day moving average of $34.11 and a 200-day moving average of $34.88. The company has a quick ratio of 1.43, a current ratio of 2.13 and a debt-to-equity ratio of 1.00. Methanex Corporation has a 12-month low of $25.46 and a 12-month high of $54.49.

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

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 16th. Methanex's dividend payout ratio (DPR) is 21.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MEOH. Raymond James Financial set a $45.00 price target on Methanex and gave the company an "outperform" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. started coverage on Methanex in a research note on Tuesday, June 10th. They set a "neutral" rating and a $33.00 price target on the stock. Scotiabank set a $50.00 target price on Methanex and gave the company a "sector outperform" rating in a research note on Tuesday, August 5th. Wall Street Zen lowered Methanex from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada upgraded Methanex from a "sector perform" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Methanex currently has a consensus rating of "Moderate Buy" and an average price target 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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