HBK Investments L P lessened its stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 30.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,898 shares of the specialty chemicals company’s stock after selling 22,402 shares during the quarter. HBK Investments L P owned 0.06% of Methanex worth $3,142,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. ETRADE Capital Management LLC acquired a new position in shares of Methanex in the third quarter valued at approximately $241,000. FineMark National Bank & Trust acquired a new position in shares of Methanex in the fourth quarter valued at approximately $253,000. FNY Partners Fund LP bought a new stake in shares of Methanex in the fourth quarter worth $302,000. Trexquant Investment LP bought a new stake in shares of Methanex in the third quarter worth $388,000. Finally, Timber Hill LLC bought a new stake in shares of Methanex in the third quarter worth $410,000. Institutional investors own 80.18% of the company’s stock.
Shares of Methanex Co. (NASDAQ:MEOH) opened at $56.85 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. Methanex Co. has a 1 year low of $39.47 and a 1 year high of $64.60. The stock has a market cap of $4,662.52, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 0.61 and a beta of 1.79.
Methanex announced that its board has initiated a stock buyback program on Monday, March 5th that permits the company to buyback 6,590,000 outstanding shares. This buyback authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Saturday, March 31st. Shareholders of record on Saturday, March 17th will be given a dividend of $0.33 per share. This is a positive change from Methanex’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, March 15th. Methanex’s dividend payout ratio is 37.29%.
MEOH has been the topic of a number of research reports. ValuEngine lowered shares of Methanex from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 30th. BMO Capital Markets reissued a “buy” rating and issued a $57.00 price objective on shares of Methanex in a research report on Friday, November 24th. Jefferies Group boosted their price objective on shares of Methanex to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. TD Securities boosted their price objective on shares of Methanex from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, BidaskClub raised shares of Methanex from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $59.00.
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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