Proficio Capital Partners LLC Takes $1.17 Million Position in Methanex Co. (NASDAQ:MEOH)

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

Several other institutional investors and hedge funds also recently made changes to their positions in MEOH. Wilmington Savings Fund Society FSB bought a new stake in Methanex in the third quarter valued at approximately $40,000. Blue Trust Inc. boosted its stake in Methanex by 15.0% during the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after acquiring an additional 371 shares in the last quarter. Legacy Wealth Asset Management LLC acquired a new stake in shares of Methanex in the 4th quarter valued at about $220,000. Entropy Technologies LP bought a new position in shares of Methanex in the 4th quarter worth $240,000. Finally, Quadrature Capital Ltd bought a new stake in Methanex during the 3rd quarter worth approximately $294,000. Institutional investors and hedge funds own 73.49% of the company's stock.

Methanex Price Performance

Methanex stock traded down $4.05 during midday trading on Monday, reaching $38.20. 87,818 shares of the stock were exchanged, compared to its average volume of 410,464. The company's fifty day moving average is $47.96 and its 200-day moving average is $44.95. The firm has a market cap of $2.57 billion, a PE ratio of 16.42 and a beta of 1.38. 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 52 week low of $36.13 and a 52 week high of $56.43.

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Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating 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, sell-side analysts forecast that Methanex Co. will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The business also recently declared 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 1.94%. The ex-dividend date of this dividend is Monday, March 17th. Methanex's payout ratio is 32.03%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. CIBC restated an "outperform" rating on shares of Methanex in a report on Monday, February 3rd. Scotiabank downgraded Methanex from a "sector outperform" rating to a "sector perform" rating and set a $53.00 target price on the stock. in a research note on Monday. Raymond James lifted their price target on Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, January 14th. UBS Group lifted their price objective on shares of Methanex from $53.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Cibc World Mkts upgraded Methanex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.