Intact Investment Management Inc. Grows Stock Holdings in Methanex Corporation $MEOH

Intact Investment Management Inc. raised its holdings in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 32.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 578,400 shares of the specialty chemicals company’s stock after purchasing an additional 141,900 shares during the quarter. Intact Investment Management Inc. owned 0.75% of Methanex worth $22,998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MEOH. CWM LLC purchased a new stake in shares of Methanex during the 2nd quarter valued at about $33,000. Parkside Financial Bank & Trust increased its stake in Methanex by 1,244.4% during the third quarter. Parkside Financial Bank & Trust now owns 1,331 shares of the specialty chemicals company’s stock worth $53,000 after acquiring an additional 1,232 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in Methanex during the second quarter valued at approximately $50,000. AXA S.A. purchased a new stake in Methanex during the second quarter valued at approximately $166,000. Finally, SBI Securities Co. Ltd. lifted its stake in shares of 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 last quarter. 73.49% of the stock is currently owned by institutional investors.

Methanex Trading Up 2.1%

NASDAQ MEOH opened at $49.03 on Monday. The stock has a market cap of $3.79 billion, a PE ratio of 16.62 and a beta of 0.73. Methanex Corporation has a 12 month low of $25.46 and a 12 month high of $54.49. The company’s 50-day moving average price is $40.44 and its 200-day moving average price is $37.58. 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 announced 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). The company 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 9.07%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 EPS. Equities research analysts forecast that Methanex Corporation will post 4.32 earnings per share for the current year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a $0.185 dividend. The ex-dividend date was Wednesday, December 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.5%. Methanex’s payout ratio is presently 25.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. CIBC reissued an “outperform” rating on shares of Methanex in a research report on Monday, November 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Methanex in a research report on Monday, December 29th. Royal Bank Of Canada set a $50.00 target price on shares of Methanex and gave the company an “outperform” rating in a research note on Monday, January 5th. Zacks Research lowered shares of Methanex from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. raised shares of Methanex from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $33.00 to $38.00 in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Methanex has an average rating of “Moderate Buy” and an average price target of $47.00.

Methanex 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).