Traders Buy High Volume of Methanex Call Options (NASDAQ:MEOH)

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) was the recipient of some unusual options trading on Wednesday. Investors purchased 3,385 call options on the company. This is an increase of 1,497% compared to the average volume of 212 call options.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MEOH shares. UBS Group increased their target price on Methanex from $48.00 to $53.00 and gave the company a “buy” rating in a report on Monday. Zacks Research lowered Methanex from a “hold” rating to a “strong sell” rating in a research note on Monday. National Bank Financial initiated coverage on shares of Methanex in a research note on Friday, September 26th. They issued an “outperform” rating and a $47.00 target price on the stock. CIBC reiterated an “outperform” rating on shares of Methanex in a report on Monday, November 17th. Finally, Raymond James Financial lowered shares of Methanex from an “outperform” rating to a “market perform” rating in a report on Wednesday. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat, Methanex currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CWM LLC purchased a new position in shares of Methanex in the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Methanex in the second quarter worth $33,000. NewEdge Advisors LLC purchased a new position in Methanex during the second quarter valued at $50,000. Parkside Financial Bank & Trust boosted its holdings in shares of Methanex by 1,244.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,331 shares of the specialty chemicals company’s stock valued at $53,000 after buying an additional 1,232 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Methanex by 131.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock worth $99,000 after acquiring an additional 1,410 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Trading Down 0.5%

Shares of Methanex stock traded down $0.25 during midday trading on Wednesday, reaching $46.94. 682,762 shares of the company’s stock traded hands, compared to its average volume of 580,865. The stock has a 50 day moving average of $38.87 and a 200-day moving average of $36.84. Methanex has a 12 month low of $25.46 and a 12 month high of $54.49. The company has a market cap of $3.63 billion, a PE ratio of 15.88 and a beta of 0.73. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 2.09.

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

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, December 17th. Methanex’s dividend payout ratio is presently 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).