Methanex Corporation $MEOH Shares Acquired by TD Asset Management Inc

TD Asset Management Inc increased its holdings in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 35.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 932,123 shares of the specialty chemicals company’s stock after acquiring an additional 242,662 shares during the quarter. TD Asset Management Inc owned approximately 1.21% of Methanex worth $37,020,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. NewEdge Advisors LLC increased its holdings in shares of Methanex by 33.3% in the 3rd quarter. NewEdge Advisors LLC now owns 2,000 shares of the specialty chemicals company’s stock valued at $80,000 after acquiring an additional 500 shares during the period. Amundi increased its holdings in shares of 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 acquiring an additional 848 shares during the period. Ameriprise Financial Inc. grew its position in Methanex by 4.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 20,636 shares of the specialty chemicals company’s stock valued at $820,000 after buying an additional 898 shares during the last quarter. Value Partners Investments Inc. grew its position in Methanex by 4.9% in the 4th quarter. Value Partners Investments Inc. now owns 20,815 shares of the specialty chemicals company’s stock valued at $827,000 after buying an additional 973 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Methanex by 3.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 39,590 shares of the specialty chemicals company’s stock valued at $1,574,000 after buying an additional 1,279 shares during the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Price Performance

Shares of NASDAQ MEOH opened at $57.62 on Friday. The firm has a market capitalization of $4.46 billion, a P/E ratio of -117.59 and a beta of 0.56. Methanex Corporation has a one year low of $32.00 and a one year high of $66.75. The company’s fifty day moving average is $60.69 and its two-hundred day moving average is $50.62. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.26 and a current ratio of 1.96.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, April 29th. The specialty chemicals company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.08). Methanex had a positive return on equity of 2.96% and a negative net margin of 1.25%.The company had revenue of $957.42 million for the quarter, compared to analysts’ expectations of $964.76 million. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Methanex’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts forecast that Methanex Corporation will post 6.36 EPS for the current fiscal year.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, June 16th. Methanex’s dividend payout ratio is presently -151.02%.

Wall Street Analyst Weigh In

MEOH has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Methanex from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating and issued a $69.00 price objective on shares of Methanex in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price objective on shares of Methanex from $65.00 to $70.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Raymond James Financial lifted their price objective on shares of Methanex from $52.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. Finally, UBS Group lifted their price objective on shares of Methanex from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $66.78.

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).