Hillsdale Investment Management Inc. Buys New Stake in Methanex Co. (NASDAQ:MEOH)

Hillsdale Investment Management Inc. bought a new position in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 767,330 shares of the specialty chemicals company's stock, valued at approximately $38,301,000. Methanex makes up approximately 1.9% of Hillsdale Investment Management Inc.'s portfolio, making the stock its 12th largest position. Hillsdale Investment Management Inc. owned approximately 1.14% of Methanex as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners increased 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 lifted its holdings in Methanex by 4,776.7% during the 4th quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company's stock worth $44,960,000 after purchasing an additional 881,823 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in Methanex by 1.4% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 439,069 shares of the specialty chemicals company's stock valued at $21,912,000 after purchasing an additional 5,947 shares during the period. Raymond James Financial Inc. bought a new position in Methanex during the 4th quarter worth $14,327,000. Finally, Intact Investment Management Inc. lifted its holdings in shares of Methanex by 7.3% during the fourth quarter. Intact Investment Management Inc. now owns 257,700 shares of the specialty chemicals company's stock worth $12,876,000 after buying an additional 17,500 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

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Methanex Stock Down 2.5 %

Shares of NASDAQ MEOH traded down $0.91 during mid-day trading on Wednesday, hitting $35.96. 425,887 shares of the stock traded hands, compared to its average volume of 339,335. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The stock has a fifty day moving average price of $45.08 and a 200-day moving average price of $44.26. Methanex Co. has a 52 week low of $35.67 and a 52 week high of $56.43. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 15.57 and a beta of 1.38.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced 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 return on equity of 10.97% and a net margin of 4.41%. Research analysts anticipate that Methanex Co. will post 4.32 EPS for the current year.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, March 17th. Methanex's dividend payout ratio (DPR) is 32.03%.

Wall Street Analysts Forecast Growth

MEOH has been the topic of a number of analyst reports. Raymond James increased their target price on shares of Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 14th. UBS Group upped 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. CIBC reiterated an "outperform" rating on shares of Methanex in a report on Monday, February 3rd. Scotiabank downgraded shares of Methanex from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $66.00 to $53.00 in a research report on Monday, March 10th. Finally, Barclays increased their price target on Methanex from $54.00 to $57.00 and gave the company an "equal weight" rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Methanex presently has an average rating of "Moderate Buy" and a consensus price target of $60.63.

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.