Aperio Group LLC Has $7.21 Million Stock Position in Methanex Co. (NASDAQ:MEOH)


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Aperio Group LLC decreased its stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,538 shares of the specialty chemicals company’s stock after selling 8,881 shares during the period. Aperio Group LLC owned approximately 0.21% of Methanex worth $7,213,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Methanex in the third quarter worth $109,000. NEXT Financial Group Inc bought a new position in Methanex in the third quarter worth $120,000. Acorn Wealth Advisors LLC bought a new position in Methanex in the third quarter worth $232,000. Truist Financial Corp bought a new position in Methanex in the third quarter worth $276,000. Finally, Burke & Herbert Bank & Trust Co. bought a new position in Methanex in the fourth quarter worth $276,000. Institutional investors and hedge funds own 58.03% of the company’s stock.

Methanex stock opened at $39.26 on Tuesday. The stock has a 50-day simple moving average of $38.98 and a 200 day simple moving average of $33.22. The company has a quick ratio of 1.61, a current ratio of 1.91 and a debt-to-equity ratio of 1.55. Methanex Co. has a 12-month low of $9.00 and a 12-month high of $49.27. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -23.51 and a beta of 2.20.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Tuesday, January 26th. The specialty chemicals company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.05). Methanex had a negative net margin of 4.84% and a negative return on equity of 7.82%. During the same period in the prior year, the firm earned $0.13 earnings per share. As a group, sell-side analysts anticipate that Methanex Co. will post -1.69 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Investors of record on Wednesday, March 17th will be given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.38%. This is a positive change from Methanex’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, March 16th. Methanex’s dividend payout ratio (DPR) is presently 16.13%.

MEOH has been the subject of several research reports. Tudor Pickering raised their target price on Methanex from $43.00 to $49.00 and gave the stock a “hold” rating in a research report on Tuesday, December 29th. Smith Barney Citigroup raised Methanex from a “neutral” rating to a “buy” rating and raised their target price for the stock from $33.00 to $55.00 in a research report on Wednesday, January 6th. Scotiabank cut Methanex from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, January 6th. Tudor Pickering & Holt lifted their price objective on Methanex from $43.00 to $49.00 and gave the company a “hold” rating in a report on Tuesday, December 29th. Finally, Royal Bank of Canada cut their price objective on Methanex from $50.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 29th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $41.50.

Methanex Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, the company owns and leases storage and terminal facilities. It owns and manages a fleet of approximately 30 ocean-going vessels.

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Institutional Ownership by Quarter for Methanex (NASDAQ:MEOH)

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