Methanex Corporation (MEOH) To Go Ex-Dividend on September 16th

Methanex Corporation (NASDAQ:MEOH – Get Free Report) (TSE:MX) declared a quarterly dividend on Wednesday, July 15th. Stockholders of record on Wednesday, September 16th will be given a dividend of 0.185 per share by the specialty chemicals company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 16th.

Methanex has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. Methanex has a payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Methanex to earn $6.70 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 11.0%.

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Methanex Stock Performance

NASDAQ:MEOH opened at $62.90 on Monday. The business’s fifty day moving average is $55.62 and its 200 day moving average is $56.52. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 61.07 and a beta of 0.58. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.35 and a current ratio of 2.07. Methanex has a 52-week low of $32.00 and a 52-week high of $66.75.

Methanex (NASDAQ:MEOH – Get Free Report) (TSE:MX) last issued its earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.87 EPS for the quarter, missing the consensus estimate of $4.00 by ($0.13). Methanex had a return on equity of 11.35% and a net margin of 2.07%.The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business earned $0.97 EPS. The firm’s revenue for the quarter was up 75.0% compared to the same quarter last year. Research analysts predict that Methanex will post 8.6 EPS for the current year.

Hedge Funds Weigh In On Methanex

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust bought a new stake in shares of Methanex during the 2nd quarter worth $38,000. NewEdge Advisors LLC purchased a new stake in Methanex during the second quarter valued at about $50,000. Clearstead Advisors LLC lifted its stake in Methanex by 336.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company’s stock worth $71,000 after purchasing an additional 1,375 shares during the last quarter. Nykredit A S purchased a new position in shares of Methanex in the 2nd quarter worth about $83,000. Finally, State of Wyoming purchased a new position in shares of Methanex in the 2nd quarter worth about $153,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

About Methanex

(Get Free Report)

Methanex Corporation is a global producer and distributor of methanol, a versatile chemical used in the manufacture of formaldehyde, acetic acid, solvents, plastics, and other industrial products. Methanol is also used in fuel blending, marine fuel applications, wastewater treatment, and the production of emerging low-carbon fuels and chemicals.

Headquartered in Vancouver, Canada, Methanex operates methanol production facilities in regions including North America, South America, New Zealand, Egypt, and Trinidad.

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