Swiss National Bank Reduces Holdings in Methanex Co. (NASDAQ:MEOH)

Swiss National Bank decreased its holdings in shares of Methanex Co. (NASDAQ:MEOHGet Rating) (TSE:MX) by 7.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 141,300 shares of the specialty chemicals company’s stock after selling 12,200 shares during the period. Swiss National Bank owned approximately 0.20% of Methanex worth $5,388,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Methanex during the first quarter worth about $27,000. Van ECK Associates Corp boosted its position in Methanex by 64.7% in the first quarter. Van ECK Associates Corp now owns 779 shares of the specialty chemicals company’s stock valued at $42,000 after buying an additional 306 shares during the last quarter. Lazard Asset Management LLC boosted its position in Methanex by 37.2% in the first quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company’s stock valued at $60,000 after buying an additional 302 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Methanex in the second quarter valued at approximately $200,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Methanex in the second quarter valued at approximately $201,000. Hedge funds and other institutional investors own 72.41% of the company’s stock.

Methanex Trading Up 1.0 %

Shares of MEOH stock opened at $39.86 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.15 and a quick ratio of 1.71. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 6.24 and a beta of 1.62. The stock has a 50 day simple moving average of $35.12 and a 200-day simple moving average of $39.03. Methanex Co. has a 1-year low of $28.73 and a 1-year high of $56.79.

Methanex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 31st. Investors of record on Saturday, December 17th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, December 15th. Methanex’s dividend payout ratio is currently 10.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MEOH shares. TheStreet lowered Methanex from a “b-” rating to a “c-” rating in a research report on Friday, October 28th. UBS Group decreased their price target on Methanex from $36.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, July 28th. Royal Bank of Canada decreased their price target on Methanex from $55.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, October 4th. Raymond James decreased their price target on Methanex from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Friday, July 29th. Finally, Barclays decreased their price target on Methanex from $52.00 to $48.00 in a report on Tuesday, October 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.73.

Methanex Profile

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Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.

Further Reading

Institutional Ownership by Quarter for Methanex (NASDAQ:MEOH)

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