Methanex Corporation $MEOH Shares Purchased by Jump Financial LLC

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

A number of other hedge funds and other institutional investors have also made changes to their positions in MEOH. SVB Wealth LLC acquired a new stake in shares of Methanex during the 1st quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Methanex during the 1st quarter worth approximately $55,000. Headlands Technologies LLC acquired a new stake in shares of Methanex during the 1st quarter worth approximately $82,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Methanex during the 4th quarter worth approximately $106,000. Finally, Deutsche Bank AG increased its holdings in shares of Methanex by 19.9% during the 1st quarter. Deutsche Bank AG now owns 3,007 shares of the specialty chemicals company's stock worth $106,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 73.49% of the company's stock.

Methanex Trading Down 0.6%

Shares of MEOH stock traded down $0.21 during trading hours on Monday, hitting $35.51. The company had a trading volume of 222,511 shares, compared to its average volume of 372,339. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.13 and a quick ratio of 1.43. The stock has a market capitalization of $2.75 billion, a PE ratio of 10.47 and a beta of 0.87. The company's fifty day moving average is $34.01 and its 200 day moving average is $34.46. Methanex Corporation has a fifty-two week low of $25.46 and a fifty-two week high of $54.49.

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

Methanex Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MEOH. UBS Group cut their price target on shares of Methanex from $51.00 to $48.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Piper Sandler set a $48.00 price target on shares of Methanex and gave the stock an "overweight" rating in a report on Sunday, May 18th. JPMorgan Chase & Co. began coverage on shares of Methanex in a report on Tuesday, June 10th. They set a "neutral" rating and a $33.00 price target for the company. Raymond James Financial set a $45.00 price target on shares of Methanex and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, CIBC upped their price objective on shares of Methanex from $42.00 to $44.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.