Headlands Technologies LLC Acquires Shares of 2,333 Methanex Corporation (NASDAQ:MEOH)

Headlands Technologies LLC purchased a new stake in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,333 shares of the specialty chemicals company’s stock, valued at approximately $82,000.

A number of other large investors have also added to or reduced their stakes in MEOH. Geode Capital Management LLC grew its position in Methanex by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 107,272 shares of the specialty chemicals company’s stock worth $5,375,000 after acquiring an additional 2,401 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Methanex by 11.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 47,727 shares of the specialty chemicals company’s stock valued at $2,384,000 after purchasing an additional 4,736 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Methanex in the 4th quarter valued at approximately $14,327,000. Scotia Capital Inc. purchased a new position in shares of Methanex in the 4th quarter worth approximately $210,000. Finally, Mariner LLC purchased a new position in shares of Methanex in the 4th quarter worth approximately $352,000. Institutional investors own 73.49% of the company’s stock.

Wall Street Analysts Forecast Growth

MEOH has been the subject of a number of analyst reports. Raymond James Financial set a $45.00 price target on Methanex and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Piper Sandler set a $48.00 price target on shares of Methanex and gave the stock an “overweight” rating in a research note on Sunday, May 18th. UBS Group reduced their price objective on shares of Methanex from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. CIBC raised their price objective on shares of Methanex from $42.00 to $44.00 and gave the stock an “outperformer” rating in a research note on Friday, August 1st. Finally, Wall Street Zen cut Methanex from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Methanex currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.88.

Methanex Price Performance

Methanex stock opened at $32.67 on Wednesday. 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 stock has a market cap of $2.53 billion, a price-to-earnings ratio of 9.64 and a beta of 0.93. The firm has a 50-day moving average of $34.06 and a two-hundred day moving average of $36.05. Methanex Corporation has a 1 year low of $25.46 and a 1 year 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 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.55. Methanex had a net margin of 7.02% and a return on equity of 12.61%. The firm had revenue of $808.46 million during the quarter, compared to the consensus estimate of $835.04 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was down 13.4% on a year-over-year basis. On average, research analysts forecast that Methanex Corporation will post 4.32 earnings per share for the current year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.185 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.74 annualized dividend and a dividend yield of 2.3%. Methanex’s dividend payout ratio (DPR) is currently 21.83%.

About Methanex

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.