Wealth High Governance Capital Ltda Takes $2.51 Million Position in Methanex Corporation $MEOH

Wealth High Governance Capital Ltda acquired a new stake in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 42,106 shares of the specialty chemicals company’s stock, valued at approximately $2,507,000. Wealth High Governance Capital Ltda owned 0.05% of Methanex at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MEOH. Ritholtz Wealth Management bought a new position in Methanex in the 4th quarter valued at $375,000. Intact Investment Management Inc. increased its holdings in shares of Methanex by 17.2% in the fourth quarter. Intact Investment Management Inc. now owns 677,610 shares of the specialty chemicals company’s stock worth $26,875,000 after purchasing an additional 99,210 shares during the period. TD Asset Management Inc raised its position in shares of Methanex by 35.2% in the fourth quarter. TD Asset Management Inc now owns 932,123 shares of the specialty chemicals company’s stock worth $37,020,000 after buying an additional 242,662 shares in the last quarter. Norges Bank purchased a new stake in shares of Methanex in the fourth quarter worth $34,872,000. Finally, Vanguard Group Inc. boosted its stake in Methanex by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 2,746,051 shares of the specialty chemicals company’s stock valued at $108,917,000 after buying an additional 336,316 shares during the period. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Price Performance

Shares of MEOH opened at $55.55 on Monday. Methanex Corporation has a 1 year low of $32.00 and a 1 year high of $66.75. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.07 and a quick ratio of 1.35. The stock has a 50 day simple moving average of $54.07 and a two-hundred day simple moving average of $54.52. The firm has a market cap of $4.30 billion, a P/E ratio of 53.93 and a beta of 0.58.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $3.87 earnings per share 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 during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The company’s revenue was up 75.0% compared to the same quarter last year. On average, analysts forecast that Methanex Corporation will post 8.7 earnings per share for the current fiscal year.

Methanex Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on MEOH. Zacks Research cut Methanex from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Canadian Imperial Bank of Commerce raised Methanex from a “neutral” rating to a “sector outperform” rating and boosted their price objective for the stock from $69.00 to $71.00 in a report on Monday, July 20th. Wall Street Zen raised shares of Methanex from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Royal Bank Of Canada cut their price target on shares of Methanex from $70.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 1st. Finally, Raymond James Financial lifted their price objective on shares of Methanex from $52.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.56.

Methanex 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).