Jump Financial LLC Has $2.59 Million Holdings in Methanex Corporation $MEOH

Key Points

• Jump Financial LLC significantly increased its holdings in Methanex Corporation by 1,131.9% in Q1, accumulating a total of 73,912 shares valued at $2,594,000.
• Equities analysts have mixed opinions on Methanex, with one analyst rating it a Strong Buy and others providing ratings ranging from Hold to Outperform, along with a consensus price target of $44.88.
• Methanex recently announced a quarterly dividend of $0.185 per share, which will provide an annualized yield of 2.1%.

Jump Financial LLC lifted its position in Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 1,131.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,912 shares of the specialty chemicals company's stock after buying an additional 67,912 shares during the period. Jump Financial LLC owned about 0.11% of Methanex worth $2,594,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Methanex by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,131,471 shares of the specialty chemicals company's stock worth $74,740,000 after acquiring an additional 14,611 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Methanex by 41.8% in the first 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. Mackenzie Financial Corp lifted its stake in Methanex by 13.7% in the first quarter. Mackenzie Financial Corp now owns 1,224,388 shares of the specialty chemicals company's stock valued at $42,931,000 after buying an additional 147,195 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Methanex by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,047,978 shares of the specialty chemicals company's stock worth $52,334,000 after acquiring an additional 50,075 shares in the last quarter. Finally, Alberta Investment Management Corp raised its holdings in shares of 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 acquiring an additional 766,000 shares during the period. 73.49% of the stock is currently owned by institutional investors.

Methanex Stock Performance

Methanex stock traded down $0.21 during mid-day trading on Friday, hitting $35.51. 222,511 shares of the company's stock traded hands, compared to its average volume of 404,994. The firm has a 50 day simple moving average of $34.00 and a two-hundred day simple moving average of $34.62. Methanex Corporation has a fifty-two week low of $25.46 and a fifty-two week high of $54.49. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 10.47 and a beta of 0.93. 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 issued its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.55. The firm had revenue of $808.46 million during the quarter, compared to the consensus estimate of $835.04 million. Methanex had a net margin of 7.02% and a return on equity of 12.61%. The business's revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. On average, research analysts expect that Methanex Corporation will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The firm 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 $0.185 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.74 annualized dividend and a yield of 2.1%. Methanex's payout ratio is 21.83%.

Analyst Ratings Changes

A number of research firms have issued reports on MEOH. Piper Sandler set a $48.00 target price on Methanex and gave the stock an "overweight" rating in a report on Sunday, May 18th. 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. Raymond James Financial set a $45.00 price target on Methanex and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. CIBC increased their target price on shares of Methanex from $42.00 to $44.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Methanex in a report on Tuesday, June 10th. They set a "neutral" rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Methanex presently has a consensus rating of "Moderate Buy" and an average target price 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.