Ritholtz Wealth Management Has $695,000 Stock Holdings in Methanex Co. (NASDAQ:MEOH)

Ritholtz Wealth Management reduced its position in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 9.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,802 shares of the specialty chemicals company’s stock after selling 1,733 shares during the quarter. Ritholtz Wealth Management’s holdings in Methanex were worth $695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MEOH. BNP Paribas Financial Markets bought a new stake in shares of Methanex in the first quarter worth $494,000. Duality Advisers LP bought a new stake in shares of Methanex in the 1st quarter valued at about $779,000. M&G Plc bought a new stake in shares of Methanex in the 1st quarter valued at about $589,459,000. Swiss National Bank increased its stake in shares of Methanex by 0.6% in the first quarter. Swiss National Bank now owns 127,500 shares of the specialty chemicals company’s stock valued at $5,681,000 after buying an additional 700 shares during the period. Finally, Headlands Technologies LLC raised its position in shares of Methanex by 346.5% during the first quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

Wall Street Analysts Forecast Growth

MEOH has been the topic of a number of analyst reports. Barclays lowered shares of Methanex from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $56.00 to $44.00 in a research note on Tuesday, September 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price target on shares of Methanex in a report on Tuesday, September 3rd. Scotiabank boosted their price objective on Methanex from $58.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 10th. UBS Group cut their target price on Methanex from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Raymond James lowered their target price on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.38.

Methanex Price Performance

Shares of NASDAQ:MEOH opened at $40.89 on Wednesday. The company has a 50-day moving average price of $42.57 and a two-hundred day moving average price of $46.98. Methanex Co. has a twelve month low of $36.13 and a twelve month high of $56.43. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $2.76 billion, a PE ratio of 17.33 and a beta of 1.35.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. Methanex had a net margin of 4.05% and a return on equity of 5.44%. The business had revenue of $920.00 million during the quarter, compared to analyst estimates of $954.26 million. Methanex’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. Equities analysts forecast that Methanex Co. will post 2.41 EPS for the current year.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.185 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.74 annualized dividend and a yield of 1.81%. Methanex’s dividend payout ratio is currently 31.36%.

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.