Methanex Corporation $MEOH Shares Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly increased its stake in Methanex Corporation by 8,198.0%, owning 77,254 shares valued at $2.71 million as of the latest SEC filing.
• Methanex reported earnings of $0.97 EPS for the last quarter, surpassing estimates, although its revenue of $808.46 million was below the expected $835.04 million.
• The company recently announced a quarterly dividend of $0.185, representing an annual yield of 2.2%, with a payout ratio of 21.83%.

Quantbot Technologies LP raised its position in shares of Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 8,198.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,254 shares of the specialty chemicals company's stock after purchasing an additional 76,323 shares during the quarter. Quantbot Technologies LP owned 0.11% of Methanex worth $2,711,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Methanex by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,131,471 shares of the specialty chemicals company's stock valued at $74,740,000 after purchasing an additional 14,611 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Methanex by 41.8% during the 1st 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 purchasing an additional 376,365 shares during the last quarter. Mackenzie Financial Corp grew its stake in Methanex by 13.7% during the 1st quarter. Mackenzie Financial Corp now owns 1,224,388 shares of the specialty chemicals company's stock valued at $42,931,000 after purchasing an additional 147,195 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Methanex by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,047,978 shares of the specialty chemicals company's stock valued at $52,334,000 after purchasing an additional 50,075 shares during the last quarter. Finally, Alberta Investment Management Corp grew its stake in Methanex by 1,499.0% during the 1st quarter. Alberta Investment Management Corp now owns 817,100 shares of the specialty chemicals company's stock valued at $28,671,000 after purchasing an additional 766,000 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Raymond James Financial set a $45.00 price target on Methanex and gave the company an "outperform" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. initiated coverage on Methanex in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $33.00 target price on the stock. CIBC upped their target price on Methanex from $42.00 to $44.00 and gave the stock an "outperformer" rating in a research note on Friday, August 1st. Scotiabank set a $50.00 target price on Methanex and gave the stock a "sector outperform" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen downgraded Methanex from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. One investment 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $44.88.

Methanex Price Performance

NASDAQ MEOH traded down $0.08 during trading hours on Tuesday, reaching $35.32. The company's stock had a trading volume of 44,037 shares, compared to its average volume of 546,281. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 10.41 and a beta of 0.93. Methanex Corporation has a 1-year low of $25.46 and a 1-year high of $54.49. 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 company's 50-day moving average is $34.11 and its two-hundred day moving average is $34.88.

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 analysts' consensus estimates of $0.42 by $0.55. The company 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%.Methanex's quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. On average, equities analysts predict that Methanex Corporation will post 4.32 EPS for the current year.

Methanex Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, September 16th. This represents a $0.74 dividend on an annualized basis and a yield of 2.1%. Methanex's dividend payout ratio is presently 21.83%.

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.