CenterBook Partners LP Acquires 10,086 Shares of Methanex Corporation $MEOH

CenterBook Partners LP acquired a new position in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,086 shares of the specialty chemicals company’s stock, valued at approximately $592,000.

A number of other institutional investors have also recently bought and sold shares of the company. State of Wyoming acquired a new position in Methanex in the 3rd quarter worth about $322,000. Engineers Gate Manager LP raised its stake in shares of Methanex by 482.8% during the 2nd quarter. Engineers Gate Manager LP now owns 75,384 shares of the specialty chemicals company’s stock worth $3,479,000 after purchasing an additional 62,449 shares in the last quarter. Nykredit A S purchased a new stake in shares of Methanex during the 2nd quarter worth about $83,000. Parkside Financial Bank & Trust purchased a new stake in shares of Methanex during the 2nd quarter worth about $38,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Methanex during the 2nd quarter worth about $2,255,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Analysts Set New Price Targets

MEOH has been the subject of several research reports. Royal Bank Of Canada lifted their price target on Methanex from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 2nd. JPMorgan Chase & Co. increased their price objective on Methanex from $55.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, November 2nd. Weiss Ratings upgraded Methanex from a “hold (c)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Wall Street Zen raised shares of Methanex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 3rd. Finally, Zacks Research upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Methanex has a consensus rating of “Moderate Buy” and a consensus target price of $73.78.

Methanex Stock Up 1.4%

MEOH stock opened at $69.04 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. Methanex Corporation has a 1 year low of $34.01 and a 1 year high of $72.32. The company has a fifty day simple moving average of $62.58 and a 200 day simple moving average of $57.10. The firm has a market cap of $5.34 billion, a PE ratio of 8.82 and a beta of 0.72.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Thursday, October 29th. The specialty chemicals company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.79. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Methanex had a net margin of 7.62% and a return on equity of 20.89%. Methanex’s revenue for the quarter was up 49.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. Sell-side analysts anticipate that Methanex Corporation will post 9.82 EPS for the current fiscal year.

Methanex Profile

Methanex Corporation is a global producer and supplier of methanol, a chemical used as a feedstock in products such as plastics, paints, adhesives and building materials. Methanol is also used in fuel applications and as an ingredient in other chemicals. The company operates methanol production facilities and manages a global supply and distribution network that serves customers across multiple regions. Its logistics activities include shipping and terminal operations, helping deliver methanol from production sites to markets worldwide.