Balyasny Asset Management L.P. Has $2.56 Million Holdings in Methanex Co. (NASDAQ:MEOH)

Balyasny Asset Management L.P. cut its holdings in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 23.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,305 shares of the specialty chemicals company’s stock after selling 15,548 shares during the quarter. Balyasny Asset Management L.P. owned about 0.08% of Methanex worth $2,562,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MEOH. Parkside Financial Bank & Trust lifted its holdings in shares of Methanex by 39.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 573 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of 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 buying an additional 371 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Methanex in the fourth quarter valued at $166,000. Signaturefd LLC raised 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 in the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in shares of Methanex in the fourth quarter valued at $203,000. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on MEOH. Royal Bank of Canada cut their target price on Methanex from $55.00 to $50.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. StockNews.com lowered Methanex from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Raymond James cut their target price on Methanex from $62.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Barclays cut their target price on Methanex from $57.00 to $41.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Finally, CIBC cut their target price on Methanex from $47.00 to $44.00 and set an “outperformer” rating for the company in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.88.

Methanex Stock Performance

Methanex stock opened at $34.48 on Tuesday. 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 stock has a fifty day moving average price of $32.69 and a two-hundred day moving average price of $41.69. Methanex Co. has a 52-week low of $25.46 and a 52-week high of $56.43. The firm has a market capitalization of $2.32 billion, a P/E ratio of 14.93 and a beta of 0.93.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.05. The firm had revenue of $857.90 million during the quarter, compared to analyst estimates of $1.06 billion. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 earnings per share. As a group, analysts anticipate that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.185 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.15%. Methanex’s dividend payout ratio (DPR) is presently 24.83%.

Methanex Profile

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.