Semanteon Capital Management LP Purchases New Position in Methanex Corporation $MEOH

Semanteon Capital Management LP purchased a new stake in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,544 shares of the specialty chemicals company’s stock, valued at approximately $419,000.

A number of other institutional investors also recently made changes to their positions in MEOH. CWM LLC acquired a new position in shares of Methanex in the second quarter valued at approximately $33,000. NewEdge Advisors LLC acquired a new stake in shares of Methanex during the second quarter worth $50,000. Parkside Financial Bank & Trust boosted its position in shares of Methanex by 1,244.4% in the third quarter. Parkside Financial Bank & Trust now owns 1,331 shares of the specialty chemicals company’s stock valued at $53,000 after acquiring an additional 1,232 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Methanex by 131.5% in the third quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock valued at $99,000 after acquiring an additional 1,410 shares in the last quarter. Finally, AXA S.A. bought a new position in Methanex during the second quarter worth about $166,000. Institutional investors own 73.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MEOH shares. 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 report on Monday, January 12th. Zacks Research raised Methanex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 27th. Canadian Imperial Bank of Commerce cut Methanex from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $46.00 to $52.00 in a report on Friday, February 6th. JPMorgan Chase & Co. upgraded Methanex from a “neutral” rating to an “overweight” rating and upped their target price for the company from $33.00 to $38.00 in a research report on Friday, October 31st. Finally, Raymond James Financial downgraded Methanex from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.00.

Methanex Stock Up 0.1%

NASDAQ MEOH opened at $49.37 on Monday. The business has a fifty day moving average price of $45.20 and a two-hundred day moving average price of $39.66. The stock has a market capitalization of $3.82 billion, a PE ratio of 16.74 and a beta of 0.68. Methanex Corporation has a fifty-two week low of $25.46 and a fifty-two week high of $51.94. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, March 17th. Methanex’s payout ratio is currently 25.08%.

About Methanex

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).