Vanguard Group Inc. Grows Position in Methanex Co. (NASDAQ:MEOH)

Vanguard Group Inc. raised its position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,116,860 shares of the specialty chemicals company's stock after purchasing an additional 37,658 shares during the quarter. Vanguard Group Inc. owned about 3.14% of Methanex worth $105,779,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hillsdale Investment Management Inc. purchased a new position in Methanex in the fourth quarter worth approximately $38,301,000. Semanteon Capital Management LP purchased a new position in shares of Methanex during the 4th quarter worth $1,191,000. Northwest & Ethical Investments L.P. increased its position in shares of Methanex by 589.7% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 28,291 shares of the specialty chemicals company's stock worth $1,411,000 after purchasing an additional 24,189 shares during the last quarter. Boston Partners raised its holdings in Methanex by 36.0% in the 4th quarter. Boston Partners now owns 989,534 shares of the specialty chemicals company's stock valued at $49,393,000 after buying an additional 262,087 shares during the period. Finally, Signaturefd LLC lifted its position in Methanex by 15.0% in the fourth quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company's stock valued at $172,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company's stock.

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Methanex Stock Up 1.4 %

NASDAQ MEOH traded up $0.36 during trading on Friday, reaching $26.64. 844,540 shares of the company's stock were exchanged, compared to its average volume of 358,189. The company has a 50 day moving average price of $39.15 and a two-hundred day moving average price of $43.37. The stock has a market cap of $1.80 billion, a P/E ratio of 11.53 and a beta of 1.06. Methanex Co. has a 1 year low of $25.46 and a 1 year high of $56.43. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. On average, equities research analysts anticipate that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.185 per share. The ex-dividend date was Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 2.78%. Methanex's dividend payout ratio is currently 32.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MEOH. Royal Bank of Canada reiterated a "sector perform" rating and set a $55.00 price target on shares of Methanex in a research report on Tuesday, April 1st. Barclays dropped their target price on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. UBS Group cut their target price on Methanex from $66.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. CIBC lowered their price target on Methanex from $63.00 to $55.00 and set an "outperformer" rating for the company in a research report on Thursday, April 3rd. Finally, Raymond James boosted their price objective on Methanex from $54.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $51.63.

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.