Proficio Capital Partners LLC Purchases Shares of 23,422 Methanex Co. (NASDAQ:MEOH)

Proficio Capital Partners LLC bought a new stake in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,422 shares of the specialty chemicals company's stock, valued at approximately $1,170,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MEOH. Charles Schwab Investment Management Inc. boosted its position in shares of Methanex by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,435 shares of the specialty chemicals company's stock valued at $10,660,000 after purchasing an additional 8,333 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Methanex by 17.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company's stock valued at $415,000 after buying an additional 1,245 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Methanex during the 4th quarter valued at $166,000. US Bancorp DE grew its position in shares of Methanex by 35.7% in the 4th quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company's stock worth $941,000 after buying an additional 4,952 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of Methanex by 39.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock worth $101,000 after acquiring an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms recently commented on MEOH. CIBC reissued an "outperform" rating on shares of Methanex in a research note on Monday, February 3rd. UBS Group lifted their target price on shares of Methanex from $53.00 to $66.00 and gave the company a "buy" rating in a report on Friday, February 7th. Royal Bank of Canada restated a "sector perform" rating and issued a $55.00 price target on shares of Methanex in a research note on Friday, January 31st. Cibc World Mkts upgraded Methanex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 10th. Finally, Barclays boosted their target price on Methanex from $54.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. Three research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.63.

Methanex Stock Performance

Shares of NASDAQ:MEOH traded up $0.04 during midday trading on Monday, reaching $37.48. 420,590 shares of the company's stock traded hands, compared to its average volume of 336,805. 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 Co. has a one year low of $35.67 and a one year high of $56.43. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 16.23 and a beta of 1.38. The stock has a 50 day moving average of $45.55 and a 200 day moving average of $44.36.

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 (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. As a group, equities research analysts anticipate that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Monday, March 17th. Methanex's dividend payout ratio (DPR) is presently 32.03%.

About Methanex

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.