Burney Co. Buys Shares of 18,689 Methanex Corporation $MEOH

Burney Co. purchased a new position in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 18,689 shares of the specialty chemicals company’s stock, valued at approximately $743,000.

Other institutional investors have also recently made changes to their positions in the company. Value Partners Investments Inc. lifted its holdings in shares of Methanex by 3.0% during the 3rd quarter. Value Partners Investments Inc. now owns 19,842 shares of the specialty chemicals company’s stock worth $789,000 after acquiring an additional 570 shares during the last quarter. Squarepoint Ops LLC raised its position in Methanex by 206.7% during the second quarter. Squarepoint Ops LLC now owns 41,257 shares of the specialty chemicals company’s stock valued at $1,366,000 after purchasing an additional 27,803 shares in the last quarter. State of Wyoming raised its position in Methanex by 192.7% during the second quarter. State of Wyoming now owns 6,898 shares of the specialty chemicals company’s stock valued at $228,000 after purchasing an additional 4,541 shares in the last quarter. Headlands Technologies LLC lifted its stake in Methanex by 781.2% during the second quarter. Headlands Technologies LLC now owns 20,559 shares of the specialty chemicals company’s stock worth $681,000 after purchasing an additional 18,226 shares during the last quarter. Finally, Oxford Asset Management LLP boosted its holdings in shares of Methanex by 56.0% in the 2nd quarter. Oxford Asset Management LLP now owns 17,002 shares of the specialty chemicals company’s stock worth $563,000 after purchasing an additional 6,105 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Stock Performance

NASDAQ:MEOH opened at $40.19 on Monday. The firm has a market cap of $3.11 billion, a PE ratio of 13.62 and a beta of 0.77. Methanex Corporation has a fifty-two week low of $25.46 and a fifty-two week high of $54.49. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 2.09. The business has a 50 day moving average price of $36.98 and a 200-day moving average price of $36.19.

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 firm had revenue of $924.87 million during the quarter, compared to analysts’ expectations of $977.82 million. Methanex had a return on equity of 9.07% and a net margin of 5.97%.The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 earnings per share. Equities research analysts predict that Methanex Corporation will post 4.32 earnings per share for the current year.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, December 17th. Methanex’s dividend payout ratio is currently 25.08%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MEOH shares. National Bankshares set a $47.00 price objective on Methanex and gave the company an “outperform” rating in a report on Thursday, September 25th. CIBC reiterated an “outperform” rating on shares of Methanex in a research report on Monday, November 17th. National Bank Financial initiated coverage on shares of Methanex in a research note on Friday, September 26th. They set an “outperform” rating and a $47.00 price target on the stock. Scotiabank cut their price objective on shares of Methanex from $50.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Monday, November 3rd. Finally, Zacks Research upgraded shares of Methanex from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.55.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).