Exencial Wealth Advisors LLC Buys 18,173 Shares of Methanex Corporation $MEOH

Exencial Wealth Advisors LLC increased its stake in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 72.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,154 shares of the specialty chemicals company’s stock after buying an additional 18,173 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Methanex were worth $1,716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC bought a new stake in shares of Methanex during the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Methanex in the second quarter valued at about $33,000. NewEdge Advisors LLC bought a new stake in Methanex during the second quarter worth about $50,000. AXA S.A. acquired a new stake in Methanex during the second quarter worth about $166,000. Finally, SBI Securities Co. Ltd. grew its stake in Methanex by 21.9% during the second quarter. SBI Securities Co. Ltd. now owns 5,107 shares of the specialty chemicals company’s stock worth $169,000 after buying an additional 917 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MEOH shares. Raymond James Financial downgraded shares of Methanex from an “outperform” rating to a “market perform” rating in a report on Wednesday. UBS Group boosted their price objective on shares of Methanex from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Monday. National Bankshares set a $47.00 target price on Methanex and gave the stock an “outperform” rating in a research note on Thursday, September 25th. JPMorgan Chase & Co. upgraded Methanex from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $33.00 to $38.00 in a research note on Friday, October 31st. Finally, Scotiabank lowered their price target on Methanex from $50.00 to $48.00 and set a “sector outperform” rating for the company in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Methanex presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Methanex Stock Performance

Shares of Methanex stock opened at $46.84 on Thursday. The company’s 50 day moving average price is $39.07 and its two-hundred day moving average price is $36.91. The firm has a market capitalization of $3.62 billion, a P/E ratio of 15.88 and a beta of 0.73. Methanex Corporation has a fifty-two week low of $25.46 and a fifty-two week high of $54.49. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.09 and a quick ratio of 1.33.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, October 29th. The specialty chemicals company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.45). Methanex had a net margin of 5.97% and a return on equity of 9.07%. The firm had revenue of $924.87 million during the quarter, compared to the consensus estimate of $977.82 million. During the same quarter in the previous year, the company posted $1.21 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. On average, equities analysts forecast that Methanex Corporation will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, December 17th. Methanex’s dividend payout ratio (DPR) is presently 25.08%.

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).