Methanex Co. (MEOH) Shares Bought by Westbourne Investment Advisors Inc.

Westbourne Investment Advisors Inc. increased its stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 18.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,225 shares of the specialty chemicals company’s stock after acquiring an additional 3,220 shares during the period. Methanex comprises about 1.2% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 23rd largest position. Westbourne Investment Advisors Inc.’s holdings in Methanex were worth $1,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MEOH. State of Wisconsin Investment Board increased its stake in Methanex by 96.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 77,605 shares of the specialty chemicals company’s stock valued at $5,484,000 after buying an additional 38,105 shares during the last quarter. Trexquant Investment LP increased its stake in Methanex by 67.6% in the 2nd quarter. Trexquant Investment LP now owns 9,740 shares of the specialty chemicals company’s stock valued at $689,000 after buying an additional 3,928 shares during the last quarter. Millennium Management LLC increased its stake in Methanex by 12.5% in the 2nd quarter. Millennium Management LLC now owns 151,181 shares of the specialty chemicals company’s stock valued at $10,688,000 after buying an additional 16,836 shares during the last quarter. Janus Henderson Group PLC increased its stake in Methanex by 173.8% in the 2nd quarter. Janus Henderson Group PLC now owns 350,291 shares of the specialty chemicals company’s stock valued at $24,753,000 after buying an additional 222,338 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in Methanex by 144.3% in the 2nd quarter. Acadian Asset Management LLC now owns 66,700 shares of the specialty chemicals company’s stock valued at $4,712,000 after buying an additional 39,400 shares during the last quarter. Institutional investors and hedge funds own 76.39% of the company’s stock.

Several equities research analysts have issued reports on MEOH shares. BidaskClub upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research note on Saturday, September 15th. TD Securities lifted their price target on shares of Methanex from $71.00 to $76.00 and gave the company a “hold” rating in a research note on Wednesday, July 11th. Raymond James set a $90.00 price target on shares of Methanex and gave the company an “outperform” rating in a research note on Monday. Citigroup lifted their price target on shares of Methanex from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, July 11th. Finally, Zacks Investment Research upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research note on Wednesday, October 10th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $83.73.

Shares of Methanex stock traded down $1.67 during trading on Thursday, hitting $73.61. 19,889 shares of the stock were exchanged, compared to its average volume of 573,939. The firm has a market capitalization of $6.24 billion, a PE ratio of 15.93, a P/E/G ratio of 0.82 and a beta of 1.55. Methanex Co. has a 1-year low of $48.55 and a 1-year high of $83.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.62 and a quick ratio of 1.18.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, July 25th. The specialty chemicals company reported $1.75 earnings per share for the quarter, hitting the consensus estimate of $1.75. The company had revenue of $950.00 million for the quarter, compared to analyst estimates of $872.10 million. Methanex had a net margin of 10.90% and a return on equity of 28.64%. Methanex’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. As a group, analysts expect that Methanex Co. will post 6.44 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 30th. Stockholders of record on Sunday, September 16th were paid a dividend of $0.33 per share. The ex-dividend date was Thursday, September 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.79%. Methanex’s dividend payout ratio is presently 28.03%.

Methanex Profile

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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Institutional Ownership by Quarter for Methanex (NASDAQ:MEOH)

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