29,445 Shares in Methanex Corporation (MEOH) Purchased by Stevens Capital Management LP
Stevens Capital Management LP purchased a new stake in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 29,445 shares of the specialty chemicals company’s stock, valued at approximately $1,481,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in MEOH. Vanguard Group Inc. grew its stake in Methanex Corporation by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 1,991,754 shares of the specialty chemicals company’s stock valued at $93,413,000 after buying an additional 83,091 shares during the last quarter. Geode Capital Management LLC grew its stake in Methanex Corporation by 12.0% in the 1st quarter. Geode Capital Management LLC now owns 92,660 shares of the specialty chemicals company’s stock valued at $4,326,000 after buying an additional 9,921 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Methanex Corporation in the 1st quarter valued at about $8,939,000. Tudor Investment Corp ET AL acquired a new position in Methanex Corporation in the 1st quarter valued at about $307,000. Finally, Mn Services Vermogensbeheer B.V. acquired a new position in Methanex Corporation in the 2nd quarter valued at about $643,000. Institutional investors and hedge funds own 83.37% of the company’s stock.
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Shares of Methanex Corporation (NASDAQ:MEOH) opened at $51.60 on Monday. Methanex Corporation has a 12-month low of $37.05 and a 12-month high of $53.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.59. The firm has a market cap of $4,331.10, a price-to-earnings ratio of 15.68, a PEG ratio of 0.96 and a beta of 1.80.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Methanex Corporation had a net margin of 9.81% and a return on equity of 16.02%. The company had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $614.19 million. During the same period in the prior year, the company posted ($0.01) earnings per share. Methanex Corporation’s revenue for the quarter was up 41.2% compared to the same quarter last year. research analysts anticipate that Methanex Corporation will post 3.59 EPS for the current year.
Methanex Corporation announced that its board has approved a share repurchase program on Wednesday, July 26th that authorizes the company to repurchase 1,660,000 shares. This repurchase authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
MEOH has been the subject of a number of recent research reports. Alembic Global Advisors set a $65.00 price objective on shares of Methanex Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. TD Securities boosted their price objective on shares of Methanex Corporation from $58.00 to $59.00 and gave the company a “buy” rating in a report on Friday, October 27th. Royal Bank Of Canada reissued a “hold” rating on shares of Methanex Corporation in a report on Wednesday, September 27th. BidaskClub downgraded shares of Methanex Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Cowen and Company set a $60.00 price objective on shares of Methanex Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $54.17.
Methanex Corporation Profile
Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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