Mariner LLC Makes New $352,000 Investment in Methanex Co. (NASDAQ:MEOH)

Mariner LLC acquired a new position in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,040 shares of the specialty chemicals company’s stock, valued at approximately $352,000.

Several other large investors have also made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new position in shares of Methanex during the third quarter worth approximately $40,000. Parkside Financial Bank & Trust boosted its holdings in Methanex by 39.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock valued at $101,000 after purchasing an additional 573 shares during the period. Blue Trust Inc. grew its position in Methanex by 15.0% in the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock worth $142,000 after purchasing an additional 371 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Methanex during the fourth quarter valued at about $166,000. Finally, Signaturefd LLC raised its position in shares of Methanex by 15.0% during the fourth quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company’s stock valued at $172,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Stock Up 1.9 %

Shares of MEOH opened at $32.98 on Friday. The business’s 50 day simple moving average is $33.87 and its 200-day simple moving average is $42.01. Methanex Co. has a one year low of $25.46 and a one year high of $56.43. The company has a market capitalization of $2.22 billion, a P/E ratio of 14.28 and a beta of 1.06. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.25 by $0.05. The company had revenue of $857.90 million for the quarter, compared to analysts’ expectations of $1.06 billion. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. As a group, sell-side analysts predict that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, June 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.24%. Methanex’s payout ratio is 32.03%.

Wall Street Analyst Weigh In

Several research firms have commented on MEOH. UBS Group cut their price target on Methanex from $53.00 to $51.00 and set a “buy” rating for the company in a report on Thursday. Barclays reduced their target price on Methanex from $57.00 to $41.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Raymond James lowered their price target on shares of Methanex from $62.00 to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. CIBC decreased their target price on shares of Methanex from $55.00 to $47.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 29th. Finally, Scotiabank cut shares of Methanex from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $66.00 to $53.00 in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Methanex currently has an average rating of “Moderate Buy” and a consensus price target of $47.25.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. 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.