Headlands Technologies LLC Has $1.35 Million Stock Position in Methanex Corporation $MEOH

Headlands Technologies LLC increased its stake in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 530.8% during the second quarter, Holdings Channel.com reports. The fund owned 29,267 shares of the specialty chemicals company’s stock after buying an additional 24,627 shares during the period. Headlands Technologies LLC’s holdings in Methanex were worth $1,351,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Methanex by 14.0% in the fourth quarter. Vanguard Group Inc. now owns 2,746,051 shares of the specialty chemicals company’s stock worth $108,917,000 after acquiring an additional 336,316 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Methanex by 629.5% during the 4th quarter. Wellington Management Group LLP now owns 2,316,270 shares of the specialty chemicals company’s stock valued at $92,000,000 after purchasing an additional 1,998,763 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. raised its position in shares of Methanex by 0.4% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 2,048,214 shares of the specialty chemicals company’s stock valued at $81,363,000 after buying an additional 7,707 shares in the last quarter. FIL Ltd raised its stake in shares of Methanex by 40.3% during the fourth quarter. FIL Ltd now owns 1,803,108 shares of the specialty chemicals company’s stock worth $71,520,000 after acquiring an additional 518,173 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Methanex by 10.3% in the fourth quarter. Bank of Montreal Can now owns 1,313,615 shares of the specialty chemicals company’s stock worth $52,104,000 after purchasing an additional 123,078 shares during the last quarter. 73.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Zacks Research lowered shares of Methanex from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Scotiabank boosted their price objective on Methanex from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. UBS Group boosted their price objective on shares of Methanex from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce raised Methanex from a “neutral” rating to a “sector outperform” rating and raised their price objective for the company from $69.00 to $71.00 in a research report on Monday, July 20th. Finally, Royal Bank Of Canada decreased their price target on shares of Methanex from $70.00 to $65.00 and set a “sector perform” rating for the company in a report on Wednesday, July 1st. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Methanex has an average rating of “Moderate Buy” and an average target price of $68.56.

Methanex Stock Performance

Shares of MEOH stock opened at $58.95 on Tuesday. Methanex Corporation has a 52-week low of $32.00 and a 52-week high of $66.75. The company has a quick ratio of 1.35, a current ratio of 2.07 and a debt-to-equity ratio of 0.83. The stock has a market cap of $4.56 billion, a PE ratio of 57.23 and a beta of 0.58. The business has a 50-day simple moving average of $53.23 and a 200-day simple moving average of $55.77.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.00 by ($0.13). Methanex had a return on equity of 11.35% and a net margin of 2.07%.The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company posted $0.97 EPS. The business’s revenue for the quarter was up 75.0% compared to the same quarter last year. On average, equities analysts expect that Methanex Corporation will post 8.6 EPS for the current year.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.74 dividend on an annualized basis and a yield of 1.3%. Methanex’s dividend payout ratio (DPR) is currently 71.84%.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).