Bank of Montreal Can Has $47.32 Million Stake in Methanex Corporation $MEOH

Bank of Montreal Can reduced its stake in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,190,537 shares of the specialty chemicals company’s stock after selling 75,982 shares during the period. Bank of Montreal Can owned 1.54% of Methanex worth $47,322,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MEOH. Semanteon Capital Management LP bought a new position in shares of Methanex in the third quarter valued at approximately $419,000. Dynamic Technology Lab Private Ltd lifted its stake in shares of Methanex by 37.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 27,510 shares of the specialty chemicals company’s stock worth $911,000 after buying an additional 7,510 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Methanex by 66.4% during the 2nd quarter. Dixon Mitchell Investment Counsel Inc. now owns 2,041,412 shares of the specialty chemicals company’s stock worth $67,577,000 after buying an additional 814,877 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Methanex by 546.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 269,374 shares of the specialty chemicals company’s stock worth $10,710,000 after buying an additional 227,723 shares during the period. Finally, TD Asset Management Inc grew its stake in Methanex by 87.1% in the 3rd quarter. TD Asset Management Inc now owns 689,461 shares of the specialty chemicals company’s stock valued at $27,417,000 after buying an additional 320,964 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Trading Up 8.6%

Shares of MEOH opened at $58.06 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.37 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.49 billion, a PE ratio of 51.38 and a beta of 0.65. Methanex Corporation has a 1 year low of $25.46 and a 1 year high of $59.09. The stock has a 50 day simple moving average of $48.56 and a 200-day simple moving average of $41.32.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Thursday, March 5th. The specialty chemicals company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.95). Methanex had a net margin of 2.21% and a return on equity of 5.35%. The company had revenue of $968.81 million during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $1.24 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts predict that Methanex Corporation will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.185 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.3%. Methanex’s payout ratio is 65.49%.

Analyst Ratings Changes

MEOH has been the subject of a number of research analyst reports. UBS Group boosted their target price on shares of Methanex from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Zacks Research raised Methanex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 27th. Scotiabank reissued an “outperform” rating on shares of Methanex in a research report on Wednesday, January 21st. Jefferies Financial Group raised their price objective on shares of Methanex from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank Of Canada boosted their target price on shares of Methanex from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.90.

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).