Highland Peak Capital LLC purchased a new position in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 208,252 shares of the specialty chemicals company's stock, valued at approximately $10,400,000. Methanex comprises 5.7% of Highland Peak Capital LLC's investment portfolio, making the stock its 6th largest holding. Highland Peak Capital LLC owned about 0.31% of Methanex as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of Methanex by 4,776.7% in the 4th quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company's stock valued at $44,960,000 after buying an additional 881,823 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Methanex in the fourth quarter valued at approximately $14,327,000. Point72 Asset Management L.P. increased its position in Methanex by 1,495.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company's stock valued at $5,739,000 after purchasing an additional 130,127 shares during the period. Chartwell Investment Partners LLC increased its position in Methanex by 27.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 202,863 shares of the specialty chemicals company's stock valued at $8,387,000 after purchasing an additional 44,173 shares during the period. Finally, Triasima Portfolio Management inc. bought a new position in Methanex during the 4th quarter worth approximately $1,540,000. Institutional investors and hedge funds own 73.49% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a "sector perform" rating and set a $55.00 price objective on shares of Methanex in a research report on Friday, January 31st. Raymond James increased their price target on Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, January 14th. UBS Group lifted their price objective on Methanex from $53.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Barclays upped their target price on Methanex from $54.00 to $57.00 and gave the company an "equal weight" rating in a research report on Monday, February 10th. Finally, Cibc World Mkts upgraded Methanex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $60.63.
Check Out Our Latest Analysis on MEOH
Methanex Stock Up 0.3 %
Shares of MEOH traded up $0.10 during trading hours on Thursday, reaching $36.78. The stock had a trading volume of 266,400 shares, compared to its average volume of 333,027. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 15.92 and a beta of 1.39. The firm has a 50-day simple moving average of $47.18 and a 200 day simple moving average of $44.77. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. Methanex Co. has a 12 month low of $35.67 and a 12 month high of $56.43.
Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. Equities research analysts predict that Methanex Co. will post 4.32 earnings per share for the current fiscal year.
Methanex Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, March 17th. Methanex's dividend payout ratio (DPR) is presently 32.03%.
Methanex Company Profile
(
Free Report)
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.
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