Methanex Corporation $MEOH Shares Sold by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp decreased its position in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 49.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,493 shares of the specialty chemicals company’s stock after selling 21,007 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Methanex were worth $854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of MEOH. Amundi grew its position in Methanex by 3.9% during the 1st quarter. Amundi now owns 22,791 shares of the specialty chemicals company’s stock worth $800,000 after purchasing an additional 848 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Methanex in the 2nd quarter valued at $419,000. Invesco Ltd. raised its position in shares of Methanex by 15.7% in the second quarter. Invesco Ltd. now owns 249,231 shares of the specialty chemicals company’s stock worth $8,250,000 after acquiring an additional 33,827 shares during the period. AXA S.A. purchased a new position in shares of Methanex in the 2nd quarter valued at about $166,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of Methanex by 327.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 47,284 shares of the specialty chemicals company’s stock valued at $1,565,000 after purchasing an additional 36,211 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MEOH shares. UBS Group lifted their price target on Methanex from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lowered Methanex from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $56.00 to $65.00 in a research note on Friday, May 1st. Scotiabank boosted their price objective on Methanex from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded Methanex from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Jefferies Financial Group upped their price target on Methanex from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Methanex has a consensus rating of “Moderate Buy” and a consensus target price of $66.78.

Methanex Stock Down 0.7%

Shares of NASDAQ MEOH opened at $55.85 on Wednesday. The stock has a market cap of $4.32 billion, a P/E ratio of -113.98 and a beta of 0.56. The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.98. Methanex Corporation has a 12-month low of $32.00 and a 12-month high of $66.75. The business’s fifty day simple moving average is $60.28 and its 200-day simple moving average is $51.86.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, April 29th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.08). The company had revenue of $957.42 million during the quarter, compared to analyst estimates of $964.76 million. Methanex had a negative net margin of 1.25% and a positive return on equity of 2.96%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 earnings per share. As a group, equities analysts predict that Methanex Corporation will post 8.18 EPS for the current fiscal year.

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, June 16th. Methanex’s dividend payout ratio is currently -151.02%.

Methanex Profile

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).