Methanex Corporation $MEOH Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp decreased its position in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 6.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 766,000 shares of the specialty chemicals company’s stock after selling 51,100 shares during the period. Alberta Investment Management Corp owned about 0.99% of Methanex worth $25,355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Deutsche Bank AG raised its holdings in Methanex by 19.9% in the 1st quarter. Deutsche Bank AG now owns 3,007 shares of the specialty chemicals company’s stock valued at $106,000 after acquiring an additional 500 shares in the last quarter. Amundi boosted its holdings in shares of Methanex by 3.9% in the 1st quarter. Amundi now owns 22,791 shares of the specialty chemicals company’s stock valued at $800,000 after buying an additional 848 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in Methanex by 21.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 5,107 shares of the specialty chemicals company’s stock valued at $169,000 after purchasing an additional 917 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Methanex in the second quarter valued at about $33,000. Finally, CWM LLC acquired a new stake in shares of Methanex during the second quarter valued at about $33,000. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Stock Performance

Shares of NASDAQ:MEOH opened at $36.79 on Friday. The business’s fifty day moving average price is $37.53 and its two-hundred day moving average price is $35.23. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.13 and a quick ratio of 1.43. Methanex Corporation has a fifty-two week low of $25.46 and a fifty-two week high of $54.49. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 12.47 and a beta of 1.01.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share (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 9.30%. The firm had revenue of $924.87 million during the quarter, compared to analyst estimates of $977.82 million. During the same period in the prior year, the business posted $1.21 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. As a group, analysts predict that Methanex Corporation will post 4.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on MEOH. Weiss Ratings restated a “hold (c-)” rating on shares of Methanex in a research report on Thursday. CIBC raised their price target on Methanex from $42.00 to $44.00 and gave the company an “outperformer” rating in a research note on Friday, August 1st. Jefferies Financial Group increased their target price on shares of Methanex from $45.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. National Bankshares set a $47.00 price objective on Methanex and gave the stock an “outperform” rating in a research report on Thursday, September 25th. Finally, JPMorgan Chase & Co. raised shares of Methanex from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $33.00 to $38.00 in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.27.

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.