Clough Capital Partners L P Makes New Investment in Methanex Corporation $MEOH

Clough Capital Partners L P acquired a new stake in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) in the first quarter, Holdings Channel reports. The fund acquired 30,000 shares of the specialty chemicals company’s stock, valued at approximately $1,786,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Methanex by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 2,746,051 shares of the specialty chemicals company’s stock worth $108,917,000 after purchasing an additional 336,316 shares during the period. Wellington Management Group LLP grew its position in Methanex by 629.5% in the 4th quarter. Wellington Management Group LLP now owns 2,316,270 shares of the specialty chemicals company’s stock valued at $92,000,000 after purchasing an additional 1,998,763 shares during the period. Dixon Mitchell Investment Counsel Inc. grew its position in Methanex by 0.4% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 2,048,214 shares of the specialty chemicals company’s stock valued at $81,363,000 after purchasing an additional 7,707 shares during the period. FIL Ltd increased its stake in Methanex by 40.3% during the 4th quarter. FIL Ltd now owns 1,803,108 shares of the specialty chemicals company’s stock valued at $71,520,000 after purchasing an additional 518,173 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Methanex by 10.3% during the 4th quarter. Bank of Montreal Can now owns 1,313,615 shares of the specialty chemicals company’s stock valued at $52,104,000 after purchasing an additional 123,078 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Stock Performance

Shares of Methanex stock opened at $55.86 on Monday. The business’s fifty day simple moving average is $54.71 and its 200 day simple moving average is $54.20. 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 firm has a market capitalization of $4.32 billion, a P/E ratio of -114.00 and a beta of 0.60.

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 analysts’ consensus estimates of $0.38 by ($0.08). Methanex had a negative net margin of 1.25% and a positive return on equity of 2.96%. The business had revenue of $957.42 million during the quarter, compared to the consensus estimate of $964.76 million. During the same quarter last year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Methanex Corporation will post 8.7 EPS for the current year.

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.185 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $0.74 annualized dividend and a yield of 1.3%. Methanex’s dividend payout ratio is presently -151.02%.

Wall Street Analyst Weigh In

MEOH has been the topic of a number of recent research reports. Raymond James Financial raised their price objective on shares of Methanex from $52.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Royal Bank Of Canada lowered their target price on shares of Methanex from $70.00 to $65.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 1st. Scotiabank raised their price target on shares of Methanex from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded Methanex from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Finally, Zacks Research downgraded Methanex from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $69.00.

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).