17,776 Shares in Methanex Co. (NASDAQ:MEOH) Bought by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC acquired a new position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 17,776 shares of the specialty chemicals company’s stock, valued at approximately $858,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MEOH. Norges Bank acquired a new position in shares of Methanex in the fourth quarter worth about $34,109,000. Trexquant Investment LP increased its holdings in Methanex by 35.1% during the 4th quarter. Trexquant Investment LP now owns 8,059 shares of the specialty chemicals company’s stock worth $382,000 after purchasing an additional 2,094 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its position in shares of Methanex by 327.2% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 37,109 shares of the specialty chemicals company’s stock valued at $1,757,000 after purchasing an additional 28,423 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Methanex by 2.9% during the 4th quarter. CIBC Asset Management Inc now owns 66,028 shares of the specialty chemicals company’s stock valued at $3,133,000 after buying an additional 1,850 shares during the last quarter. Finally, Appian Way Asset Management LP acquired a new stake in shares of Methanex during the fourth quarter worth approximately $6,801,000. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Stock Up 0.6 %

NASDAQ:MEOH opened at $41.63 on Friday. The firm has a market capitalization of $2.81 billion, a PE ratio of 17.64 and a beta of 1.36. Methanex Co. has a 52 week low of $36.13 and a 52 week high of $56.43. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average of $43.45 and a 200-day moving average of $47.04.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Tuesday, July 30th. The specialty chemicals company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. The firm 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 was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. Analysts predict that Methanex Co. will post 2.41 EPS for the current year.

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.185 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.78%. Methanex’s dividend payout ratio (DPR) is presently 31.36%.

Analyst Ratings Changes

A number of research analysts have commented on MEOH shares. Barclays downgraded shares of Methanex from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $56.00 to $44.00 in a research note on Tuesday, September 10th. Raymond James reduced their price target on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. Scotiabank lifted their price target on Methanex from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 10th. UBS Group cut their price objective on Methanex from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Piper Sandler lifted their target price on Methanex from $51.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Methanex currently has a consensus rating of “Moderate Buy” and an average target price of $55.38.

Methanex Profile

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.