Methanex Corporation $MEOH Stake Boosted by Value Partners Investments Inc.

Key Points

• Value Partners Investments Inc. increased its stake in Methanex Corporation by 150.1%, acquiring an additional 11,567 shares during the second quarter, bringing their total holdings to 19,272 shares valued at approximately $637,000.
• Several institutional investors heightened their positions in Methanex, with notable increases from Deutsche Bank AG (19.9%), Ameriprise Financial Inc. (3.4%), and others, resulting in institutional ownership of 73.49% of the company's stock.
• Methanex reported a quarterly EPS of $0.97, surpassing analysts' estimates, despite a year-over-year revenue decline of 13.4%, and announced a quarterly dividend of $0.185 with a yield of 1.9%.

Value Partners Investments Inc. increased its holdings in shares of Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 150.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,272 shares of the specialty chemicals company's stock after purchasing an additional 11,567 shares during the quarter. Value Partners Investments Inc.'s holdings in Methanex were worth $637,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MEOH. Alberta Investment Management Corp increased its position 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 worth $28,671,000 after purchasing an additional 766,000 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Methanex by 2,409.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 581,000 shares of the specialty chemicals company's stock worth $20,388,000 after purchasing an additional 557,845 shares in the last quarter. Encompass Capital Advisors LLC increased its position in Methanex by 86.0% during the 1st quarter. Encompass Capital Advisors LLC now owns 999,305 shares of the specialty chemicals company's stock worth $35,066,000 after purchasing an additional 461,954 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 worth $44,798,000 after purchasing an additional 376,365 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Methanex by 26.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company's stock worth $53,770,000 after purchasing an additional 226,349 shares in the last quarter. Institutional investors and hedge funds own 73.49% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MEOH. Zacks Research raised shares of Methanex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Scotiabank set a $50.00 price target on Methanex and gave the stock a "sector outperform" rating in a report on Tuesday, August 5th. Raymond James Financial set a $45.00 price target on Methanex and gave the stock an "outperform" rating in a report on Tuesday, July 15th. CIBC upped their price target on Methanex from $42.00 to $44.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. began coverage on Methanex in a report on Tuesday, June 10th. They issued a "neutral" rating and a $33.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Methanex presently has an average rating of "Buy" and a consensus price target of $44.88.

Methanex Stock Down 1.3%

Shares of Methanex stock traded down $0.53 on Friday, hitting $39.01. 142,378 shares of the company's stock traded hands, compared to its average volume of 535,039. The stock has a market cap of $3.02 billion, a P/E ratio of 11.49 and a beta of 0.87. The company has a quick ratio of 1.43, a current ratio of 2.13 and a debt-to-equity ratio of 1.00. The firm's 50-day moving average is $35.13 and its 200 day moving average is $34.05. Methanex Corporation has a 52-week low of $25.46 and a 52-week high of $54.49.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.97 EPS for the quarter, beating the consensus estimate 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%.The business's revenue was down 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS. Equities analysts anticipate that Methanex Corporation will post 4.32 earnings per share for the current year.

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.185 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.74 annualized dividend and a yield of 1.9%. Methanex's dividend payout ratio (DPR) is 21.83%.

Methanex Company 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.