Methanex Corporation $MEOH Shares Bought by Becker Capital Management Inc.

Becker Capital Management Inc. lifted its position in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 563,609 shares of the specialty chemicals company’s stock after buying an additional 16,933 shares during the period. Becker Capital Management Inc. owned approximately 0.73% of Methanex worth $18,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Methanex during the 2nd quarter worth about $2,516,000. Nebula Research & Development LLC increased its position in shares of Methanex by 38.2% during the second quarter. Nebula Research & Development LLC now owns 31,833 shares of the specialty chemicals company’s stock valued at $1,054,000 after acquiring an additional 8,804 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Methanex in the 2nd quarter valued at approximately $50,000. Qube Research & Technologies Ltd raised its stake in shares of Methanex by 327.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 47,284 shares of the specialty chemicals company’s stock valued at $1,565,000 after acquiring an additional 36,211 shares during the period. Finally, Intact Investment Management Inc. lifted its holdings in shares of Methanex by 16.7% in the 2nd quarter. Intact Investment Management Inc. now owns 436,500 shares of the specialty chemicals company’s stock worth $14,449,000 after acquiring an additional 62,600 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Methanex Stock Performance

Shares of MEOH stock opened at $39.24 on Thursday. Methanex Corporation has a 12 month low of $25.46 and a 12 month high of $54.49. The company has a market cap of $3.03 billion, a P/E ratio of 13.30 and a beta of 0.77. The company has a current ratio of 2.09, a quick ratio of 1.33 and a debt-to-equity ratio of 0.97. The firm has a fifty day moving average price of $36.44 and a 200 day moving average price of $35.64.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.45). Methanex had a return on equity of 9.07% and a net margin of 5.97%.The company had revenue of $924.87 million for the quarter, compared to analyst estimates of $977.82 million. During the same period in the previous year, the business posted $1.21 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts predict that Methanex Corporation will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be given a $0.185 dividend. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.9%. Methanex’s dividend payout ratio is 25.08%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MEOH. National Bank Financial began coverage on Methanex in a research note on Friday, September 26th. They issued an “outperform” rating and a $47.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Methanex in a research report on Monday. Scotiabank cut their price target on shares of Methanex from $50.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 3rd. Jefferies Financial Group raised their price objective on shares of Methanex from $45.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, CIBC restated an “outperform” rating on shares of Methanex in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Methanex currently has an average rating of “Moderate Buy” and a consensus price target of $46.55.

Methanex Company Profile

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.