4,794 Shares in Methanex Corporation (MEOH) Purchased by ETRADE Capital Management LLC
ETRADE Capital Management LLC bought a new position in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,794 shares of the specialty chemicals company’s stock, valued at approximately $241,000.
Other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Methanex by 12.0% in the first quarter. Geode Capital Management LLC now owns 92,660 shares of the specialty chemicals company’s stock valued at $4,326,000 after acquiring an additional 9,921 shares during the period. NGAM Advisors L.P. boosted its position in shares of Methanex by 1.5% in the second quarter. NGAM Advisors L.P. now owns 22,054 shares of the specialty chemicals company’s stock valued at $971,000 after acquiring an additional 333 shares during the period. Sei Investments Co. boosted its position in shares of Methanex by 1.5% in the second quarter. Sei Investments Co. now owns 59,413 shares of the specialty chemicals company’s stock valued at $2,617,000 after acquiring an additional 872 shares during the period. Korea Investment CORP boosted its position in shares of Methanex by 1.8% in the second quarter. Korea Investment CORP now owns 5,659 shares of the specialty chemicals company’s stock valued at $249,000 after acquiring an additional 101 shares during the period. Finally, ARP Americas LLC bought a new position in shares of Methanex in the second quarter valued at approximately $396,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.
A number of equities analysts have recently commented on the stock. Royal Bank Of Canada restated a “hold” rating on shares of Methanex in a research report on Friday, August 25th. Zacks Investment Research upgraded shares of Methanex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. TD Securities raised their price objective on shares of Methanex to $71.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Cowen restated an “outperform” rating and issued a $58.00 price objective (up from $55.00) on shares of Methanex in a research report on Monday, October 9th. Finally, Scotiabank restated a “sector perform” rating and issued a $67.00 price objective on shares of Methanex in a research report on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Methanex has an average rating of “Hold” and a consensus price target of $55.53.
Shares of Methanex Corporation (NASDAQ MEOH) opened at $54.00 on Tuesday. Methanex Corporation has a 1 year low of $39.47 and a 1 year high of $55.05. The stock has a market cap of $4,545.13, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 0.97 and a beta of 1.82. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.59.
Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. Methanex had a net margin of 9.81% and a return on equity of 16.02%. The business had revenue of $720.00 million during the quarter, compared to analyst estimates of $614.19 million. During the same period in the previous year, the business posted ($0.01) earnings per share. Methanex’s revenue for the quarter was up 41.2% on a year-over-year basis. equities research analysts anticipate that Methanex Corporation will post 3.72 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 31st. Shareholders of record on Sunday, December 17th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 2.22%. Methanex’s payout ratio is presently 39.87%.
Methanex Company 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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