Methanex Co. (NASDAQ:MEOH) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC reduced its stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 9.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 32,057 shares of the specialty chemicals company’s stock after selling 3,346 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Methanex were worth $1,601,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in Methanex during the third quarter worth $40,000. Parkside Financial Bank & Trust grew its position in Methanex by 39.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock valued at $101,000 after acquiring an additional 573 shares in the last quarter. Blue Trust Inc. increased its stake in Methanex by 15.0% during the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock worth $142,000 after purchasing an additional 371 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Methanex during the fourth quarter worth about $166,000. Finally, Signaturefd LLC boosted its stake in shares of Methanex by 15.0% in the fourth quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company’s stock valued at $172,000 after purchasing an additional 450 shares during the period. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. CIBC reduced their target price on shares of Methanex from $63.00 to $55.00 and set an “outperformer” rating on the stock in a report on Thursday. UBS Group lifted their target price on Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a report on Friday, February 7th. Raymond James boosted their target price on Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. Cibc World Mkts upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Scotiabank lowered shares of Methanex from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $66.00 to $53.00 in a research note on Monday, March 10th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Methanex has an average rating of “Moderate Buy” and an average price target of $57.63.

Methanex Stock Performance

Shares of Methanex stock opened at $28.72 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. Methanex Co. has a 52 week low of $27.35 and a 52 week high of $56.43. The firm’s 50 day moving average is $42.47 and its two-hundred day moving average is $43.99. The firm has a market capitalization of $1.94 billion, a P/E ratio of 12.43 and a beta of 1.06.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. Research analysts forecast that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, March 17th. Methanex’s payout ratio is currently 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.