Methanex Corporation $MEOH Shares Purchased by TD Asset Management Inc

TD Asset Management Inc increased its position in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 79.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 368,497 shares of the specialty chemicals company’s stock after acquiring an additional 162,755 shares during the period. TD Asset Management Inc owned about 0.48% of Methanex worth $12,177,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MEOH. Deutsche Bank AG raised its position in Methanex by 19.9% in the 1st quarter. Deutsche Bank AG now owns 3,007 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 500 shares in the last quarter. Amundi raised its position in Methanex by 3.9% in the 1st quarter. Amundi now owns 22,791 shares of the specialty chemicals company’s stock valued at $800,000 after purchasing an additional 848 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Methanex by 25.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,190 shares of the specialty chemicals company’s stock valued at $147,000 after purchasing an additional 857 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Methanex in the 2nd quarter valued at about $33,000. Finally, CWM LLC acquired a new stake in Methanex in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MEOH shares. Jefferies Financial Group increased their price target on Methanex from $45.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. National Bankshares set a $47.00 target price on Methanex and gave the stock an “outperform” rating in a research report on Thursday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Methanex in a research report on Wednesday, October 8th. Scotiabank set a $50.00 target price on Methanex and gave the stock a “sector outperform” rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada raised Methanex from a “sector perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Methanex Stock Down 3.3%

MEOH opened at $33.99 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.13 and a quick ratio of 1.43. The business has a 50 day simple moving average of $37.06 and a 200-day simple moving average of $34.13. The stock has a market capitalization of $2.63 billion, a P/E ratio of 10.03 and a beta of 0.94. Methanex Corporation has a 12 month low of $25.46 and a 12 month high of $54.49.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.42 by $0.55. The business had revenue of $808.46 million during the quarter, compared to analysts’ expectations of $835.04 million. Methanex had a return on equity of 12.61% and a net margin of 7.02%.The company’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS. On average, equities analysts anticipate that Methanex Corporation will post 4.32 earnings per share for the current fiscal year.

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.