Squarepoint Ops LLC Takes $201,000 Position in Methanex Co. (NASDAQ:MEOH)

Squarepoint Ops LLC purchased a new stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) in the second quarter, HoldingsChannel reports. The firm purchased 4,155 shares of the specialty chemicals company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Methanex in the 1st quarter valued at about $494,000. Duality Advisers LP bought a new stake in Methanex during the 1st quarter worth approximately $779,000. M&G Plc bought a new stake in Methanex during the 1st quarter worth approximately $589,459,000. Swiss National Bank increased its stake in Methanex by 0.6% during the 1st quarter. Swiss National Bank now owns 127,500 shares of the specialty chemicals company’s stock worth $5,681,000 after purchasing an additional 700 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in Methanex by 346.5% during the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 700 shares in the last quarter. 73.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

MEOH has been the subject of a number of research reports. Barclays cut Methanex from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $56.00 to $44.00 in a research note on Tuesday, September 10th. UBS Group lowered their target price on Methanex from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Scotiabank upped their price target on Methanex from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 10th. Piper Sandler upped their price target on Methanex from $51.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of Methanex in a research report on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.38.

Methanex Trading Down 1.8 %

NASDAQ MEOH opened at $42.13 on Monday. The company has a market cap of $2.84 billion, a PE ratio of 17.85 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.80. Methanex Co. has a 12 month low of $36.13 and a 12 month high of $56.43. The stock has a 50 day moving average of $42.59 and a 200-day moving average of $47.03.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Tuesday, July 30th. The specialty chemicals company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.52 by $0.10. The company had revenue of $920.00 million during the quarter, compared to the consensus estimate of $954.26 million. Methanex had a return on equity of 5.44% and a net margin of 4.05%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. On average, equities research analysts anticipate that Methanex Co. will post 2.41 EPS for the current fiscal year.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Monday, September 16th. Methanex’s payout ratio is presently 31.36%.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.