Methanex Corporation (MEOH) Stake Lowered by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its position in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 39.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 137,288 shares of the specialty chemicals company’s stock after selling 90,728 shares during the quarter. Dimensional Fund Advisors LP owned about 0.16% of Methanex worth $6,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MEOH. Vanguard Group Inc. increased its position in Methanex by 4.4% in the first quarter. Vanguard Group Inc. now owns 1,991,754 shares of the specialty chemicals company’s stock worth $93,413,000 after buying an additional 83,091 shares during the period. Geode Capital Management LLC raised its position in Methanex by 12.0% during the 1st quarter. Geode Capital Management LLC now owns 92,660 shares of the specialty chemicals company’s stock worth $4,326,000 after purchasing an additional 9,921 shares during the last quarter. Mn Services Vermogensbeheer B.V. bought a new position in Methanex during the 2nd quarter worth $643,000. BB&T Corp raised its position in Methanex by 0.3% during the 2nd quarter. BB&T Corp now owns 22,466 shares of the specialty chemicals company’s stock worth $990,000 after purchasing an additional 66 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Methanex by 15.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,010,484 shares of the specialty chemicals company’s stock worth $44,541,000 after acquiring an additional 133,052 shares during the period. 83.13% of the stock is owned by institutional investors.

Methanex Corporation (MEOH) traded down $1.70 during trading on Wednesday, hitting $52.60. 665,213 shares of the company’s stock traded hands, compared to its average volume of 786,624. 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 company has a market cap of $4,532.54, a PE ratio of 16.41, a P/E/G ratio of 0.97 and a beta of 1.82. Methanex Corporation has a 1 year low of $39.47 and a 1 year high of $55.10.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The company had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $614.19 million. Methanex had a net margin of 9.81% and a return on equity of 16.02%. Methanex’s revenue was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. sell-side analysts expect that Methanex Corporation will post 3.72 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 31st. Investors of record on Sunday, December 17th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.28%. Methanex’s dividend payout ratio (DPR) is presently 39.87%.

MEOH has been the subject of a number of recent analyst reports. TD Securities increased their price target on Methanex from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Royal Bank Of Canada restated a “hold” rating on shares of Methanex in a research note on Wednesday, September 27th. Scotiabank set a $53.50 target price on Methanex and gave the company a “sector perform” rating in a research note on Wednesday, October 18th. UBS raised their target price on Methanex from $42.00 to $44.00 and gave the company a “sell” rating in a research note on Friday, October 13th. Finally, Zacks Investment Research upgraded Methanex from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $55.53.

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Methanex 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.

Institutional Ownership by Quarter for Methanex (NASDAQ:MEOH)

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