Signaturefd LLC Acquires 450 Shares of Methanex Co. (NASDAQ:MEOH)

Signaturefd LLC boosted its holdings in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 15.0% in the 4th quarter, Holdings Channel reports. The firm owned 3,452 shares of the specialty chemicals company’s stock after buying an additional 450 shares during the period. Signaturefd LLC’s holdings in Methanex were worth $172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in Methanex by 4,776.7% during the fourth quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company’s stock worth $44,960,000 after purchasing an additional 881,823 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in Methanex by 1.4% during the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 439,069 shares of the specialty chemicals company’s stock worth $21,912,000 after purchasing an additional 5,947 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Methanex during the fourth quarter worth $14,327,000. Intact Investment Management Inc. lifted its stake in Methanex by 7.3% during the fourth quarter. Intact Investment Management Inc. now owns 257,700 shares of the specialty chemicals company’s stock worth $12,876,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Methanex by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,435 shares of the specialty chemicals company’s stock worth $10,660,000 after purchasing an additional 8,333 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

Methanex Stock Performance

NASDAQ MEOH opened at $37.44 on Friday. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 16.21 and a beta of 1.38. Methanex Co. has a twelve month low of $35.67 and a twelve month high of $56.43. The stock has a fifty day simple moving average of $45.55 and a 200 day simple moving average of $44.36. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Sell-side analysts expect that Methanex Co. will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.185 per share. The ex-dividend date is Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.98%. Methanex’s payout ratio is currently 32.03%.

Wall Street Analysts Forecast Growth

MEOH has been the subject of a number of research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a research note on Friday, January 31st. Scotiabank cut Methanex from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $66.00 to $53.00 in a research note on Monday, March 10th. Barclays increased their price target on Methanex from $54.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. Raymond James increased their price target on Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Finally, CIBC reiterated an “outperform” rating on shares of Methanex in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.63.

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.