Exencial Wealth Advisors LLC Has $1.72 Million Stock Position in Methanex Corporation $MEOH

Exencial Wealth Advisors LLC lifted its stake in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 72.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,154 shares of the specialty chemicals company’s stock after purchasing an additional 18,173 shares during the period. Exencial Wealth Advisors LLC owned 0.06% of Methanex worth $1,716,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Value Partners Investments Inc. increased its holdings in Methanex by 3.0% during the third quarter. Value Partners Investments Inc. now owns 19,842 shares of the specialty chemicals company’s stock worth $789,000 after buying an additional 570 shares during the last quarter. Amundi grew its position 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 acquiring an additional 848 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Methanex by 21.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 5,107 shares of the specialty chemicals company’s stock worth $169,000 after purchasing an additional 917 shares during the last quarter. CWM LLC bought a new stake in shares of Methanex in the 2nd quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Methanex in the 2nd quarter valued at about $33,000. 73.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

MEOH has been the topic of several research analyst reports. Scotiabank dropped their price objective on Methanex from $50.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 3rd. CIBC reissued an “outperform” rating on shares of Methanex in a report on Monday, November 17th. Weiss Ratings restated a “hold (c)” rating on shares of Methanex in a research note on Monday, December 29th. UBS Group raised their price target on Methanex from $48.00 to $53.00 and gave the company a “buy” rating in a report on Monday. Finally, Royal Bank Of Canada set a $50.00 price objective on shares of Methanex and gave the company an “outperform” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Methanex has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Methanex Stock Performance

NASDAQ:MEOH opened at $46.84 on Thursday. The stock has a 50 day simple moving average of $39.07 and a 200 day simple moving average of $36.91. The stock has a market cap of $3.62 billion, a P/E ratio of 15.88 and a beta of 0.73. Methanex Corporation has a 1-year low of $25.46 and a 1-year high of $54.49. The company has a current ratio of 2.09, a quick ratio of 1.33 and a debt-to-equity ratio of 0.97.

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

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were paid a $0.185 dividend. The ex-dividend date was Wednesday, December 17th. This represents a $0.74 annualized dividend and a yield of 1.6%. Methanex’s payout ratio is 25.08%.

About Methanex

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).