Methanex Corporation $MEOH Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Methanex stake by 4.7% in the first quarter, adding 50,681 shares to own 1.13 million shares worth approximately $67.1 million. Institutional investors collectively hold 73.49% of the company.
• Methanex shares opened at $55.55, while the company’s latest quarterly results fell slightly short of expectations: earnings were $3.87 per share versus a $4.00 estimate, and revenue was $1.40 billion versus $1.43 billion expected.
• The company declared a quarterly dividend of $0.185, or $0.74 annualized, yielding about 1.3%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $68.56.

Dimensional Fund Advisors LP boosted its stake in Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,127,046 shares of the specialty chemicals company's stock after purchasing an additional 50,681 shares during the period. Dimensional Fund Advisors LP owned approximately 1.46% of Methanex worth $67,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MEOH. NewEdge Advisors LLC acquired a new position in Methanex during the 2nd quarter worth approximately $50,000. Clearstead Advisors LLC raised its stake in shares of Methanex by 336.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company's stock valued at $71,000 after purchasing an additional 1,375 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Methanex by 61.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company's stock worth $85,000 after purchasing an additional 812 shares in the last quarter. AXA S.A. purchased a new position in shares of Methanex in the second quarter valued at $166,000. Finally, Barclays PLC grew its holdings in Methanex by 115.3% during the 4th quarter. Barclays PLC now owns 4,199 shares of the specialty chemicals company's stock valued at $167,000 after purchasing an additional 2,249 shares in the last quarter. Institutional investors and hedge funds own 73.49% of the company's stock.

Methanex Stock Up 0.6%

Shares of Methanex stock opened at $55.55 on Friday. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 53.93 and a beta of 0.60. Methanex Corporation has a twelve month low of $32.00 and a twelve month high of $66.75. The company has a current ratio of 2.07, a quick ratio of 1.26 and a debt-to-equity ratio of 0.83. The business's 50 day simple moving average is $54.07 and its 200-day simple moving average is $54.47.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $3.87 EPS for the quarter, missing analysts' consensus estimates of $4.00 by ($0.13). The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.43 billion. Methanex had a return on equity of 11.35% and a net margin of 2.07%.Methanex's quarterly revenue was up 75.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 earnings per share. Equities research analysts forecast that Methanex Corporation will post 8.7 earnings per share for the current year.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.185 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.74 annualized dividend and a dividend yield of 1.3%. Methanex's dividend payout ratio (DPR) is 71.84%.

Wall Street Analysts Forecast Growth

MEOH has been the subject of a number of analyst reports. Raymond James Financial upped their price objective on shares of Methanex from $52.00 to $65.00 and gave the company a "market perform" rating in a research report on Thursday, April 16th. UBS Group raised their price objective on Methanex from $70.00 to $71.00 and gave the company a "buy" rating in a research note on Friday. Wall Street Zen upgraded Methanex from a "buy" rating to a "strong-buy" rating in a research note on Saturday. National Bank Financial set a $70.00 price objective on shares of Methanex and gave the stock an "outperform" rating in a report on Monday, July 13th. Finally, Royal Bank Of Canada reduced their price target on shares of Methanex from $70.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 1st. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.56.

Methanex Profile

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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