Triasima Portfolio Management inc. Sells 9,771 Shares of Methanex Corporation (NASDAQ:MEOH)

Triasima Portfolio Management inc. cut its holdings in Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 31.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 21,064 shares of the specialty chemicals company's stock after selling 9,771 shares during the period. Triasima Portfolio Management inc.'s holdings in Methanex were worth $739,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. SBI Securities Co. Ltd. boosted its holdings in shares of Methanex by 25.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,190 shares of the specialty chemicals company's stock valued at $147,000 after buying an additional 857 shares during the period. Westbourne Investment Advisors Inc. lifted its position in Methanex by 1.5% in the 1st quarter. Westbourne Investment Advisors Inc. now owns 119,759 shares of the specialty chemicals company's stock valued at $4,202,000 after purchasing an additional 1,778 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Methanex by 41.8% in 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. Value Partners Investments Inc. lifted its position in Methanex by 27.3% in the 1st quarter. Value Partners Investments Inc. now owns 7,705 shares of the specialty chemicals company's stock valued at $270,000 after purchasing an additional 1,652 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its position in Methanex by 45.1% in the 1st quarter. Intact Investment Management Inc. now owns 373,900 shares of the specialty chemicals company's stock valued at $13,113,000 after purchasing an additional 116,200 shares during the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Stock Down 0.6%

Methanex stock traded down $0.21 during trading hours on Friday, hitting $33.87. The company had a trading volume of 138,856 shares, compared to its average volume of 459,137. The firm has a market capitalization of $2.62 billion, a P/E ratio of 11.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.17 and a quick ratio of 2.52. The firm's fifty day moving average is $34.00 and its 200-day moving average is $38.15. 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 released its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. The firm had revenue of $857.90 million for the quarter, compared to analyst estimates of $1.06 billion. Methanex had a net margin of 6.00% and a return on equity of 12.45%. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. On average, research analysts forecast that Methanex Corporation will post 4.32 earnings per share for the current year.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Monday, June 16th. Methanex's dividend payout ratio is 24.83%.

Wall Street Analysts Forecast Growth

MEOH has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. UBS Group boosted their price target on shares of Methanex from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. CIBC dropped their price target on shares of Methanex from $47.00 to $44.00 and set an "outperformer" rating on the stock in a research report on Monday, May 5th. Scotiabank upgraded shares of Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price target on the stock in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Methanex in a research report on Tuesday, June 10th. They set a "neutral" rating and a $33.00 price target on the stock. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Methanex currently has an average rating of "Moderate Buy" and an average target price of $45.63.

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.