Versor Investments LP Takes $203,000 Position in Methanex Corporation $MEOH

Versor Investments LP bought a new stake in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) during the 1st quarter, HoldingsChannel.com reports. The firm bought 5,800 shares of the specialty chemicals company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Methanex by 41.8% in the first quarter. Bank of New York Mellon Corp now owns 1,276,649 shares of the specialty chemicals company’s stock valued at $44,798,000 after acquiring an additional 376,365 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Methanex by 3.4% during the fourth quarter. Ameriprise Financial Inc. now owns 11,778 shares of the specialty chemicals company’s stock worth $588,000 after buying an additional 383 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Methanex during the fourth quarter worth approximately $934,000. First Trust Advisors LP purchased a new position in Methanex during the fourth quarter worth approximately $632,000. Finally, Mariner LLC purchased a new position in Methanex during the fourth quarter worth approximately $352,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Price Performance

MEOH stock opened at $36.04 on Friday. The business has a fifty day moving average of $34.11 and a two-hundred day moving average of $35.21. 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 stock has a market cap of $2.79 billion, a price-to-earnings ratio of 10.63 and a beta of 0.93. Methanex Corporation has a 52-week low of $25.46 and a 52-week high of $54.49.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. As a group, research analysts anticipate that Methanex Corporation will post 4.32 earnings per share for the current year.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.74 annualized dividend and a yield of 2.1%. Methanex’s dividend payout ratio (DPR) is 21.83%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MEOH shares. Raymond James Financial set a $45.00 price objective on Methanex and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. started coverage on Methanex in a research report on Tuesday, June 10th. They set a “neutral” rating and a $33.00 price objective on the stock. UBS Group reduced their price objective on Methanex from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Scotiabank set a $50.00 price objective on Methanex and gave the stock a “sector outperform” rating in a research report on Tuesday, August 5th. Finally, CIBC lifted their price objective on Methanex from $42.00 to $44.00 and gave the stock an “outperformer” rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Methanex has an average rating of “Moderate Buy” and an average target price of $44.88.

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.