Entropy Technologies LP Acquires New Stake in Methanex Co. (NASDAQ:MEOH)

Entropy Technologies LP bought a new position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,800 shares of the specialty chemicals company’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Methanex by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock worth $4,340,000 after buying an additional 1,203 shares during the last quarter. Barclays PLC increased its stake in Methanex by 64.9% in the third quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company’s stock valued at $845,000 after acquiring an additional 8,047 shares during the last quarter. Blue Trust Inc. raised its position in Methanex by 15.0% during the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock valued at $142,000 after purchasing an additional 371 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Methanex during the third quarter worth about $1,092,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Methanex by 1,495.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company’s stock worth $5,739,000 after purchasing an additional 130,127 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on MEOH shares. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research report on Friday, January 31st. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. UBS Group lifted their target price on shares of Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays upped their price target on shares of Methanex from $54.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, CIBC lifted their price objective on Methanex from $59.00 to $63.00 and gave the stock an “outperformer” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Methanex presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Methanex Stock Down 0.6 %

NASDAQ MEOH opened at $46.54 on Friday. Methanex Co. has a 1 year low of $36.13 and a 1 year high of $56.43. The stock has a market capitalization of $3.14 billion, a PE ratio of 20.15 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00. The business’s 50-day moving average is $49.03 and its 200 day moving average is $44.98.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Sell-side analysts forecast that Methanex Co. will post 4.2 earnings per share for the current year.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 1.59%. Methanex’s dividend payout ratio (DPR) is presently 32.03%.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.