TD Asset Management Inc. raised its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 10.7% during the first quarter, HoldingsChannel.com reports. The firm owned 789,341 shares of the specialty chemicals company’s stock after buying an additional 76,399 shares during the quarter. TD Asset Management Inc.’s holdings in Methanex were worth $44,845,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Gravity Companies Inc. purchased a new stake in Methanex in the fourth quarter valued at approximately $36,000. Beutel Goodman & Co Ltd. acquired a new position in shares of Methanex in the first quarter worth $87,000. Quadrant Capital Group LLC grew its stake in shares of Methanex by 415.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,671 shares of the specialty chemicals company’s stock worth $78,000 after acquiring an additional 1,347 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Methanex in the first quarter worth $198,000. Finally, Macquarie Group Ltd. acquired a new position in shares of Methanex in the fourth quarter worth $168,000. 70.71% of the stock is currently owned by institutional investors.
Shares of MEOH stock traded down $1.05 on Wednesday, reaching $47.17. 8,236 shares of the stock were exchanged, compared to its average volume of 423,460. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The company has a market cap of $3.73 billion, a P/E ratio of 6.90, a PEG ratio of 0.82 and a beta of 1.51. Methanex Co. has a twelve month low of $45.48 and a twelve month high of $83.23.
Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $773.00 million during the quarter, compared to the consensus estimate of $790.00 million. Methanex had a net margin of 11.84% and a return on equity of 24.89%. The company’s revenue was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 earnings per share. On average, equities analysts forecast that Methanex Co. will post 3.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 30th. Shareholders of record on Sunday, June 16th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, June 13th. This is an increase from Methanex’s previous quarterly dividend of $0.33. Methanex’s dividend payout ratio is currently 19.24%.
Several equities analysts have commented on MEOH shares. TD Securities dropped their price target on shares of Methanex from $77.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, January 30th. Cowen downgraded shares of Methanex from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $74.00 to $62.00 in a research note on Wednesday, February 6th. UBS Group boosted their price target on shares of Methanex from $43.00 to $45.00 and gave the stock a “sell” rating in a research note on Thursday, April 25th. Zacks Investment Research downgraded shares of Methanex from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. Finally, ValuEngine upgraded shares of Methanex from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $73.60.
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Methanex Company Profile
Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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