Public Employees Retirement System of Ohio Makes New $5.04 Million Investment in Methanex Corporation $MEOH

Key Points

• Public Employees Retirement System of Ohio purchased 109,161 Methanex shares worth approximately $5.04 million, representing a 0.14% stake. Institutional investors collectively own 73.49% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $68.56.
• Methanex reported quarterly revenue of $1.40 billion, up 75% year over year, but missed earnings expectations with EPS of $3.87 versus the $4.00 consensus. The company also announced a quarterly dividend of $0.185 per share, yielding about 1.2% annually.

Public Employees Retirement System of Ohio purchased a new stake in Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 109,161 shares of the specialty chemicals company's stock, valued at approximately $5,040,000. Public Employees Retirement System of Ohio owned 0.14% of Methanex as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. NewEdge Advisors LLC bought a new stake in shares of Methanex in the second quarter worth $50,000. Clearstead Advisors LLC raised its position in Methanex by 336.2% during the 4th quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company's stock worth $71,000 after purchasing an additional 1,375 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Methanex by 61.0% during the 4th 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 during the last quarter. State of Wyoming acquired a new position in Methanex during the 2nd quarter worth about $153,000. Finally, AXA S.A. acquired a new position in Methanex during the 2nd quarter worth about $166,000. Institutional investors own 73.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MEOH. Wall Street Zen lowered Methanex from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Weiss Ratings raised Methanex from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 29th. Royal Bank Of Canada reduced their target price on Methanex from $70.00 to $65.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 1st. UBS Group increased their target price on shares of Methanex from $70.00 to $71.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, National Bank Financial set a $70.00 price target on shares of Methanex and gave the stock an "outperform" rating in a report on Monday, July 13th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $68.56.

Methanex Stock Performance

Shares of Methanex stock opened at $60.57 on Thursday. The company has a current ratio of 2.07, a quick ratio of 1.35 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average price of $53.66 and a two-hundred day moving average price of $55.93. Methanex Corporation has a 1-year low of $32.00 and a 1-year high of $66.75. The company has a market cap of $4.69 billion, a P/E ratio of 58.81 and a beta of 0.58.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $3.87 earnings per share for the quarter, missing the consensus estimate of $4.00 by ($0.13). The business had revenue of $1.40 billion during 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%.The business's revenue was up 75.0% on a year-over-year basis. During the same period last year, the business posted $0.97 earnings per share. As a group, analysts anticipate that Methanex Corporation will post 8.6 EPS for the current year.

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, September 16th. Methanex's payout ratio is presently 71.84%.

About Methanex

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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