Two Sigma Investments LP Purchases Shares of 50,476 Methanex Co. (NASDAQ:MEOH)

Two Sigma Investments LP bought a new position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 50,476 shares of the specialty chemicals company's stock, valued at approximately $2,521,000. Two Sigma Investments LP owned approximately 0.07% of Methanex at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MEOH. Blue Trust Inc. grew its stake in Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after buying an additional 371 shares during the last quarter. Ausbil Investment Management Ltd acquired a new position in shares of Methanex during the fourth quarter valued at $386,000. Triasima Portfolio Management inc. bought a new stake in shares of Methanex during the fourth quarter valued at about $1,540,000. Westbourne Investment Advisors Inc. grew its position in Methanex by 6.7% in the 4th quarter. Westbourne Investment Advisors Inc. now owns 117,981 shares of the specialty chemicals company's stock valued at $5,892,000 after buying an additional 7,375 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Methanex during the 4th quarter worth about $240,000. 73.49% of the stock is currently owned by institutional investors.

Methanex Stock Up 0.9%

Methanex stock traded up $0.30 during trading hours on Wednesday, hitting $33.17. The company had a trading volume of 68,092 shares, compared to its average volume of 396,565. The firm's fifty day moving average is $31.26 and its 200-day moving average is $40.85. The firm has a market capitalization of $2.24 billion, a P/E ratio of 14.38 and a beta of 0.93. Methanex Co. has a fifty-two week low of $25.46 and a fifty-two week high of $54.49. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.05. Methanex had a net margin of 4.41% and a return on equity of 10.97%. The firm had revenue of $857.90 million during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the prior year, the company posted $0.65 earnings per share. Methanex's revenue for the quarter was down 2.2% on a year-over-year basis. On average, research analysts forecast that Methanex Co. will post 4.32 earnings per share for the current year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.185 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.74 dividend on an annualized basis and a yield of 2.23%. Methanex's dividend payout ratio (DPR) is presently 24.83%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MEOH shares. Raymond James dropped their target price on shares of Methanex from $62.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Scotiabank raised Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price objective for the company in a research note on Monday, May 5th. Barclays cut their target price on Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Royal Bank of Canada decreased their price target on Methanex from $55.00 to $50.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Methanex from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Methanex presently has an average rating of "Moderate Buy" and an average target price of $48.25.

Methanex 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.