Methanex Corporation (MEOH) Shares Bought by Andra AP fonden
Andra AP fonden lifted its stake in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 36.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,500 shares of the specialty chemicals company’s stock after buying an additional 8,900 shares during the period. Andra AP fonden’s holdings in Methanex Corporation were worth $2,100,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Turner Investments LLC acquired a new position in shares of Methanex Corporation during the second quarter worth $221,000. Korea Investment CORP grew its stake in shares of Methanex Corporation by 1.8% in the second quarter. Korea Investment CORP now owns 5,659 shares of the specialty chemicals company’s stock worth $249,000 after purchasing an additional 101 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Methanex Corporation in the first quarter worth $307,000. AHL Partners LLP bought a new stake in shares of Methanex Corporation in the second quarter worth $300,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Methanex Corporation by 3.9% in the second quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock worth $305,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.
Several analysts recently weighed in on the stock. Jefferies Group LLC boosted their price objective on shares of Methanex Corporation to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, September 12th. Scotiabank reissued a “sector perform” rating and issued a $67.00 price objective on shares of Methanex Corporation in a research note on Wednesday, October 4th. Cowen and Company reissued a “buy” rating and issued a $55.00 price objective on shares of Methanex Corporation in a research note on Friday, September 1st. Zacks Investment Research raised shares of Methanex Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Methanex Corporation in a research report on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $54.17.
Shares of Methanex Corporation (NASDAQ MEOH) opened at $51.60 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.17. The company has a market cap of $4,331.10, a PE ratio of 15.68, a price-to-earnings-growth ratio of 0.96 and a beta of 1.80. Methanex Corporation has a one year low of $37.05 and a one year high of $53.35.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The firm had revenue of $720.00 million during the quarter, compared to analyst estimates of $614.19 million. Methanex Corporation had a net margin of 9.81% and a return on equity of 16.02%. The company’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. equities research analysts forecast that Methanex Corporation will post 3.59 earnings per share for the current year.
Methanex Corporation declared that its board has authorized a share buyback plan on Wednesday, July 26th that authorizes the company to buyback 1,660,000 shares. This buyback authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Methanex Corporation 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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