Semanteon Capital Management LP Takes $1.19 Million Position in Methanex Co. (NASDAQ:MEOH)

Semanteon Capital Management LP acquired a new position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,852 shares of the specialty chemicals company's stock, valued at approximately $1,191,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Methanex by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,102 shares of the specialty chemicals company's stock worth $8,483,000 after purchasing an additional 8,850 shares during the last quarter. Cerity Partners LLC increased its position in shares of Methanex by 19.1% during the third quarter. Cerity Partners LLC now owns 17,844 shares of the specialty chemicals company's stock worth $738,000 after buying an additional 2,863 shares during the period. Bank of Hawaii raised its stake in Methanex by 4.2% during the third quarter. Bank of Hawaii now owns 11,470 shares of the specialty chemicals company's stock worth $474,000 after buying an additional 465 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Methanex by 25.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,414 shares of the specialty chemicals company's stock valued at $762,000 after acquiring an additional 3,750 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in Methanex during the third quarter valued at $499,000. 73.49% of the stock is owned by institutional investors and hedge funds.

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Methanex Stock Down 1.6 %

Shares of MEOH traded down $0.61 on Tuesday, reaching $36.87. The company's stock had a trading volume of 512,657 shares, compared to its average volume of 336,801. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The firm has a fifty day moving average of $45.34 and a 200-day moving average of $44.30. The stock has a market capitalization of $2.48 billion, a PE ratio of 15.96 and a beta of 1.38. Methanex Co. has a twelve month low of $35.67 and a twelve month high of $56.43.

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, beating 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%. Equities analysts predict that Methanex Co. will post 4.32 EPS for the current year.

Methanex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Monday, March 17th. Methanex's dividend payout ratio is 32.03%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MEOH shares. Scotiabank downgraded Methanex from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $66.00 to $53.00 in a research note on Monday, March 10th. Barclays increased their price target on Methanex from $54.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. Royal Bank of Canada reissued a "sector perform" rating and set a $55.00 target price on shares of Methanex in a research note on Friday, January 31st. CIBC reaffirmed an "outperform" rating on shares of Methanex in a research note on Monday, February 3rd. Finally, Raymond James raised their target price on Methanex from $54.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, 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.