Legal & General Group Plc raised its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 35.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,347 shares of the specialty chemicals company’s stock after buying an additional 34,407 shares during the period. Legal & General Group Plc owned approximately 0.17% of Methanex worth $9,282,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC purchased a new position in Methanex in the 1st quarter valued at about $120,000. Advisors Preferred LLC boosted its position in Methanex by 57.8% in the 2nd quarter. Advisors Preferred LLC now owns 2,688 shares of the specialty chemicals company’s stock valued at $190,000 after buying an additional 985 shares during the last quarter. One Capital Management LLC purchased a new position in Methanex in the 2nd quarter valued at about $212,000. Suntrust Banks Inc. purchased a new position in Methanex in the 1st quarter valued at about $212,000. Finally, Brinker Capital Inc. purchased a new position in Methanex in the 1st quarter valued at about $281,000. 75.88% of the stock is owned by institutional investors.
Shares of MEOH stock opened at $76.00 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.83. Methanex Co. has a one year low of $48.55 and a one year high of $78.07. The stock has a market cap of $5.83 billion, a PE ratio of 12.07, a P/E/G ratio of 0.76 and a beta of 1.60.
Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, July 25th. The specialty chemicals company reported $1.75 EPS for the quarter, hitting the consensus estimate of $1.75. Methanex had a net margin of 10.90% and a return on equity of 28.64%. The business had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $872.10 million. During the same quarter last year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 42.0% compared to the same quarter last year. analysts anticipate that Methanex Co. will post 6.44 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 30th. Stockholders of record on Sunday, September 16th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.74%. Methanex’s payout ratio is 28.03%.
A number of equities analysts have weighed in on MEOH shares. BidaskClub raised shares of Methanex from a “hold” rating to a “buy” rating in a research report on Saturday. TD Securities upped their price objective on shares of Methanex from $71.00 to $76.00 and gave the company a “hold” rating in a research report on Wednesday, July 11th. Jefferies Financial Group upped their price objective on shares of Methanex from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 8th. Citigroup upped their price objective on shares of Methanex from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 11th. Finally, Royal Bank of Canada upped their price objective on shares of Methanex from $70.00 to $78.00 in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $75.55.
Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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