Aviso Financial Inc. Has $2.22 Million Stake in Methanex Corporation $MEOH

Aviso Financial Inc. raised its stake in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 130.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,911 shares of the specialty chemicals company’s stock after acquiring an additional 37,896 shares during the period. Aviso Financial Inc. owned about 0.09% of Methanex worth $2,215,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alberta Investment Management Corp grew its holdings in shares of Methanex by 1,499.0% in the 1st quarter. Alberta Investment Management Corp now owns 817,100 shares of the specialty chemicals company’s stock worth $28,671,000 after purchasing an additional 766,000 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in Methanex by 2,409.2% in the first quarter. Cubist Systematic Strategies LLC now owns 581,000 shares of the specialty chemicals company’s stock valued at $20,388,000 after buying an additional 557,845 shares in the last quarter. Encompass Capital Advisors LLC grew its stake in Methanex by 86.0% during the first quarter. Encompass Capital Advisors LLC now owns 999,305 shares of the specialty chemicals company’s stock worth $35,066,000 after buying an additional 461,954 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Methanex by 35.4% during the second quarter. Bank of New York Mellon Corp now owns 1,728,377 shares of the specialty chemicals company’s stock worth $57,209,000 after buying an additional 451,728 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its holdings in shares of Methanex by 75.4% during the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 794,279 shares of the specialty chemicals company’s stock worth $26,352,000 after buying an additional 341,336 shares in the last quarter. 73.49% of the stock is owned by institutional investors.

Methanex Price Performance

Shares of MEOH stock opened at $34.54 on Tuesday. Methanex Corporation has a 52-week low of $25.46 and a 52-week high of $54.49. The stock has a market cap of $2.67 billion, a PE ratio of 11.71 and a beta of 1.01. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.43 and a current ratio of 2.13. The firm’s 50 day moving average price is $37.02 and its two-hundred day moving average price is $35.36.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, October 29th. The specialty chemicals company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.45). The business had revenue of $924.87 million for the quarter, compared to the consensus estimate of $977.82 million. Methanex had a net margin of 5.97% and a return on equity of 9.30%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. As a group, analysts forecast that Methanex Corporation will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $0.74 annualized dividend and a yield of 2.1%. Methanex’s dividend payout ratio is presently 25.08%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MEOH. CIBC restated an “outperform” rating on shares of Methanex in a research report on Monday, November 17th. Royal Bank Of Canada raised Methanex from a “sector perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Friday, August 1st. UBS Group lowered their target price on Methanex from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, July 31st. Zacks Research cut Methanex from a “hold” rating to a “strong sell” rating in a report on Thursday, November 13th. Finally, Scotiabank decreased their price objective on shares of Methanex from $50.00 to $48.00 and set a “sector outperform” rating on the stock in a report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.55.

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.