Hartree Partners LP Has $4.95 Million Stake in Methanex Co. (NASDAQ:MEOH)

Hartree Partners LP reduced its holdings in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 20.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 99,038 shares of the specialty chemicals company's stock after selling 25,962 shares during the period. Methanex makes up 1.8% of Hartree Partners LP's investment portfolio, making the stock its 18th largest holding. Hartree Partners LP owned about 0.15% of Methanex worth $4,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Methanex by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company's stock worth $105,779,000 after purchasing an additional 37,658 shares in the last quarter. Boston Partners boosted its stake in shares of Methanex by 36.0% during the 4th quarter. Boston Partners now owns 989,534 shares of the specialty chemicals company's stock worth $49,393,000 after purchasing an additional 262,087 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Methanex by 4,776.7% in the fourth 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. Hillsdale Investment Management Inc. purchased a new position in shares of Methanex during the fourth quarter valued at approximately $38,301,000. Finally, Norges Bank acquired a new stake in Methanex during the fourth quarter worth approximately $34,119,000. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Stock Performance

NASDAQ:MEOH traded down $2.09 during mid-day trading on Thursday, hitting $31.96. The stock had a trading volume of 222,862 shares, compared to its average volume of 340,118. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The company has a 50 day simple moving average of $43.31 and a 200-day simple moving average of $44.12. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 13.84 and a beta of 1.38. Methanex Co. has a 52 week low of $31.76 and a 52 week high of $56.43.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, topping 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%. On average, research analysts expect that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Monday, March 17th. Methanex's payout ratio is 32.03%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Raymond James raised their price objective on Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, January 14th. Cibc World Mkts upgraded Methanex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 10th. UBS Group increased their price objective on shares of Methanex from $53.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Scotiabank cut shares of Methanex from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the stock from $66.00 to $53.00 in a research report on Monday, March 10th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $55.00 price objective on shares of Methanex in a report on Tuesday. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.63.

Methanex Company 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.