OLD National Bancorp IN lowered its position in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 7.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,141 shares of the specialty chemicals company’s stock after selling 464 shares during the period. OLD National Bancorp IN’s holdings in Methanex Corporation were worth $270,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of MEOH. Boston Partners boosted its position in Methanex Corporation by 45.2% in the first quarter. Boston Partners now owns 4,073,684 shares of the specialty chemicals company’s stock worth $191,056,000 after buying an additional 1,269,029 shares during the last quarter. Norges Bank bought a new position in Methanex Corporation during the fourth quarter worth $34,961,000. FMR LLC boosted its position in Methanex Corporation by 30.2% in the first quarter. FMR LLC now owns 3,341,500 shares of the specialty chemicals company’s stock worth $156,568,000 after buying an additional 774,598 shares during the last quarter. Morgan Stanley boosted its position in Methanex Corporation by 337.8% in the first quarter. Morgan Stanley now owns 452,878 shares of the specialty chemicals company’s stock worth $21,240,000 after buying an additional 349,445 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in Methanex Corporation during the first quarter worth $15,981,000. 82.06% of the stock is owned by hedge funds and other institutional investors.
Shares of Methanex Corporation (MEOH) opened at 46.05 on Friday. Methanex Corporation has a 52-week low of $26.83 and a 52-week high of $53.35. The stock’s 50 day moving average is $42.75 and its 200 day moving average is $45.69. The stock has a market capitalization of $4.07 billion, a PE ratio of 29.05 and a beta of 1.78.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, April 26th. The specialty chemicals company reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.18. Methanex Corporation had a net margin of 6.01% and a return on equity of 7.04%. The business had revenue of $810 million for the quarter, compared to analysts’ expectations of $833.32 million. During the same quarter last year, the company earned ($0.27) EPS. The company’s revenue for the quarter was up 86.2% compared to the same quarter last year. Equities research analysts expect that Methanex Corporation will post $4.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Saturday, September 16th will be issued a $0.30 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. Methanex Corporation’s dividend payout ratio (DPR) is presently 75.47%.
COPYRIGHT VIOLATION WARNING: “Methanex Corporation (MEOH) Shares Sold by OLD National Bancorp IN” was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://stocknewstimes.com/2017/07/23/methanex-corporation-meoh-shares-sold-by-old-national-bancorp-in.html.
A number of equities analysts recently weighed in on MEOH shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Methanex Corporation in a research report on Monday, May 15th. ValuEngine raised shares of Methanex Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Zacks Investment Research cut shares of Methanex Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Scotiabank reaffirmed a “sector perform” rating and set a $72.00 price objective on shares of Methanex Corporation in a research report on Thursday, April 27th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Methanex Corporation in a research report on Tuesday, March 28th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Methanex Corporation presently has an average rating of “Hold” and an average price target of $54.92.
About Methanex Corporation
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.
Want to see what other hedge funds are holding MEOH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Methanex Corporation (NASDAQ:MEOH) (TSE:MX).
Receive News & Ratings for Methanex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
