Schroder Investment Management Group lifted its stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 92.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,800 shares of the specialty chemicals company’s stock after buying an additional 12,900 shares during the quarter. Schroder Investment Management Group’s holdings in Methanex were worth $2,733,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of MEOH. Canada Pension Plan Investment Board boosted its stake in shares of Methanex by 60.1% in the second quarter. Canada Pension Plan Investment Board now owns 601,759 shares of the specialty chemicals company’s stock worth $42,525,000 after buying an additional 226,000 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Methanex by 173.8% in the second quarter. Janus Henderson Group PLC now owns 350,291 shares of the specialty chemicals company’s stock worth $24,753,000 after buying an additional 222,338 shares during the last quarter. Strs Ohio purchased a new stake in shares of Methanex in the second quarter worth about $13,345,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Methanex by 8.7% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 997,100 shares of the specialty chemicals company’s stock worth $92,690,000 after buying an additional 79,700 shares during the last quarter. Finally, Hexavest Inc. purchased a new stake in shares of Methanex in the third quarter worth about $5,080,000. Hedge funds and other institutional investors own 71.15% of the company’s stock.
A number of brokerages have issued reports on MEOH. BidaskClub downgraded Methanex from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. ValuEngine upgraded Methanex from a “hold” rating to a “buy” rating in a research report on Saturday, October 6th. Monness Crespi & Hardt increased their price target on Methanex from $75.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Alembic Global Advisors set a $80.00 price target on Methanex and gave the stock a “buy” rating in a research report on Thursday, October 25th. Finally, MED reiterated a “buy” rating and set a $80.00 price target on shares of Methanex in a research report on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $81.07.
Shares of Methanex stock opened at $53.65 on Friday. Methanex Co. has a 12 month low of $52.24 and a 12 month high of $83.23. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 7.27, a PEG ratio of 0.56 and a beta of 1.58. The company has a quick ratio of 1.27, a current ratio of 1.70 and a debt-to-equity ratio of 0.82.
Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.07). Methanex had a net margin of 12.48% and a return on equity of 34.25%. The firm had revenue of $1.04 billion for the quarter. As a group, equities research analysts anticipate that Methanex Co. will post 6.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, December 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.46%. Methanex’s payout ratio is currently 28.03%.
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Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells 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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