Bank of Montreal Can Has $41.96 Million Stake in Methanex Corporation $MEOH

Bank of Montreal Can decreased its holdings in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,266,519 shares of the specialty chemicals company’s stock after selling 22,925 shares during the quarter. Bank of Montreal Can owned about 1.64% of Methanex worth $41,964,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MEOH. Alberta Investment Management Corp grew its position in shares of Methanex by 1,499.0% during the 1st quarter. Alberta Investment Management Corp now owns 817,100 shares of the specialty chemicals company’s stock worth $28,671,000 after buying an additional 766,000 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of Methanex by 2,409.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 581,000 shares of the specialty chemicals company’s stock worth $20,388,000 after buying an additional 557,845 shares during the period. Encompass Capital Advisors LLC grew its position in shares of Methanex by 86.0% during the 1st quarter. Encompass Capital Advisors LLC now owns 999,305 shares of the specialty chemicals company’s stock worth $35,066,000 after buying an additional 461,954 shares during the period. Bank of New York Mellon Corp grew its position in shares of Methanex by 41.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,276,649 shares of the specialty chemicals company’s stock worth $44,798,000 after buying an additional 376,365 shares during the period. Finally, TD Asset Management Inc grew its position in shares of Methanex by 79.1% during the 2nd quarter. TD Asset Management Inc now owns 368,497 shares of the specialty chemicals company’s stock worth $12,177,000 after buying an additional 162,755 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Stock Performance

Shares of MEOH opened at $36.45 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.43 and a current ratio of 2.13. Methanex Corporation has a twelve month low of $25.46 and a twelve month high of $54.49. The firm’s 50 day moving average price is $37.36 and its two-hundred day moving average price is $34.88. The firm has a market cap of $2.82 billion, a P/E ratio of 12.36 and a beta of 1.01.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.45). Methanex had a net margin of 5.97% and a return on equity of 9.30%. The company had revenue of $924.87 million during the quarter, compared to the consensus estimate of $977.82 million. During the same period in the previous year, the firm posted $1.21 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts forecast that Methanex Corporation will post 4.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada upgraded shares of Methanex from a “sector perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Friday, August 1st. CIBC lifted their price objective on shares of Methanex from $42.00 to $44.00 and gave the stock an “outperformer” rating in a research note on Friday, August 1st. Raymond James Financial set a $45.00 price objective on shares of Methanex and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Zacks Research lowered shares of Methanex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 15th. Finally, National Bankshares set a $47.00 price objective on shares of Methanex and gave the stock an “outperform” rating in a research note on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.27.

Methanex Company 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.