Aviso Financial Inc. Raises Position in Methanex Corporation $MEOH

Aviso Financial Inc. raised its position in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 33.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,312 shares of the specialty chemicals company’s stock after acquiring an additional 22,401 shares during the quarter. Aviso Financial Inc. owned approximately 0.12% of Methanex worth $3,551,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc lifted its stake in shares of Methanex by 87.1% in the 3rd quarter. TD Asset Management Inc now owns 689,461 shares of the specialty chemicals company’s stock valued at $27,417,000 after purchasing an additional 320,964 shares during the period. Granite Investment Partners LLC raised its holdings in Methanex by 39.6% in the third quarter. Granite Investment Partners LLC now owns 335,273 shares of the specialty chemicals company’s stock worth $13,330,000 after purchasing an additional 95,159 shares in the last quarter. Semanteon Capital Management LP purchased a new position in Methanex during the third quarter valued at $419,000. Hillsdale Investment Management Inc. purchased a new position in Methanex during the third quarter valued at $7,214,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Methanex by 58.9% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,621 shares of the specialty chemicals company’s stock valued at $383,000 after buying an additional 3,567 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce lowered shares of Methanex from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $46.00 to $52.00 in a research note on Friday, February 6th. Zacks Research upgraded shares of Methanex from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Methanex in a research note on Monday, December 29th. Raymond James Financial lowered shares of Methanex from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Finally, UBS Group upped their price target on Methanex from $48.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

Methanex Stock Up 4.3%

NASDAQ:MEOH opened at $50.53 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 2.09. The firm has a market cap of $3.91 billion, a P/E ratio of 17.13 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 firm has a 50-day simple moving average of $46.20 and a two-hundred day simple moving average of $40.18.

Methanex Dividend Announcement

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 paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, March 17th. Methanex’s dividend payout ratio (DPR) is currently 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).