Fox Run Management L.L.C. purchased a new stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) during the 3rd quarter, HoldingsChannel reports. The fund purchased 6,691 shares of the specialty chemicals company’s stock, valued at approximately $529,000.
A number of other large investors also recently added to or reduced their stakes in MEOH. Mount Yale Investment Advisors LLC purchased a new stake in Methanex during the 1st quarter valued at $120,000. Highstreet Asset Management Inc. purchased a new stake in Methanex during the 2nd quarter valued at $183,000. Advisors Preferred LLC raised its holdings in Methanex by 57.8% during 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 period. Suntrust Banks Inc. purchased a new stake in Methanex during the 1st quarter valued at $212,000. Finally, One Capital Management LLC purchased a new stake in Methanex during the 2nd quarter valued at $212,000. Institutional investors own 76.39% of the company’s stock.
Several analysts recently weighed in on MEOH shares. Zacks Investment Research upgraded Methanex from a “hold” rating to a “strong-buy” rating and set a $82.00 price target on the stock in a report on Tuesday, June 12th. BidaskClub upgraded Methanex from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 13th. Citigroup increased their price target on Methanex from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 11th. TD Securities upped their price objective on Methanex from $71.00 to $76.00 and gave the company a “hold” rating in a research report on Wednesday, July 11th. Finally, Monness Crespi & Hardt upped their price objective on Methanex from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $77.00.
Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, July 25th. The specialty chemicals company reported $1.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.75. The company had revenue of $950.00 million for the quarter, compared to the consensus estimate of $872.10 million. Methanex had a return on equity of 28.64% and a net margin of 10.90%. Methanex’s quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. On average, equities analysts expect that Methanex Co. will post 6.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 30th. Shareholders of record on Sunday, September 16th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.61%. The ex-dividend date was Thursday, September 13th. Methanex’s dividend payout ratio (DPR) is presently 28.03%.
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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