Marshall Wace LLP Makes New $960,000 Investment in Methanex Co. (NASDAQ:MEOH)

Marshall Wace LLP purchased a new stake in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 19,896 shares of the specialty chemicals company's stock, valued at approximately $960,000.

A number of other institutional investors have also modified their holdings of MEOH. Headlands Technologies LLC boosted its holdings in shares of Methanex by 346.5% during the first quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company's stock valued at $40,000 after acquiring an additional 700 shares during the period. Larson Financial Group LLC bought a new position in Methanex in the 1st quarter worth approximately $45,000. Blue Trust Inc. increased its position in Methanex by 52,500.0% in the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company's stock valued at $70,000 after acquiring an additional 1,575 shares during the period. EverSource Wealth Advisors LLC raised its stake in Methanex by 572.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company's stock valued at $93,000 after acquiring an additional 1,626 shares in the last quarter. Finally, Value Partners Investments Inc. acquired a new position in Methanex during the 1st quarter worth $201,000. Institutional investors own 73.49% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MEOH. Jefferies Financial Group lifted their price objective on shares of Methanex from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, June 10th. Raymond James reduced their price target on shares of Methanex from $62.00 to $54.00 and set an "outperform" rating for the company in a research note on Wednesday, September 11th. Royal Bank of Canada reiterated a "sector perform" rating and set a $55.00 price objective on shares of Methanex in a research note on Tuesday, September 3rd. Scotiabank upped their target price on Methanex from $58.00 to $60.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, July 10th. Finally, Barclays cut Methanex from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $56.00 to $44.00 in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $55.38.

Methanex Stock Down 4.7 %

MEOH traded down $2.12 on Tuesday, reaching $42.78. 317,782 shares of the company traded hands, compared to its average volume of 301,742. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 18.09 and a beta of 1.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.25 and a quick ratio of 0.87. The stock's 50 day moving average price is $42.85 and its 200-day moving average price is $47.08. Methanex Co. has a 52-week low of $36.13 and a 52-week high of $56.43.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.10. Methanex had a net margin of 4.05% and a return on equity of 5.44%. The company had revenue of $920.00 million during the quarter, compared to analyst estimates of $954.26 million. During the same quarter last year, the business posted $0.60 EPS. The company's revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that Methanex Co. will post 2.41 EPS for the current fiscal year.

Methanex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Monday, September 16th. Methanex's payout ratio is currently 31.36%.

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.