Aviso Financial Inc. Buys 22,401 Shares of Methanex Corporation $MEOH

Aviso Financial Inc. grew its stake in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 33.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,312 shares of the specialty chemicals company’s stock after acquiring an additional 22,401 shares during the quarter. Aviso Financial Inc.’s holdings in Methanex were worth $3,551,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. CWM LLC bought a new position in Methanex during the second quarter valued at approximately $33,000. NewEdge Advisors LLC purchased a new stake in Methanex during the 2nd quarter valued at $50,000. Parkside Financial Bank & Trust lifted its holdings in shares of Methanex by 1,244.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,331 shares of the specialty chemicals company’s stock valued at $53,000 after buying an additional 1,232 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Methanex by 131.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock valued at $99,000 after buying an additional 1,410 shares during the period. Finally, AXA S.A. purchased a new position in shares of Methanex in the 2nd quarter worth $166,000. 73.49% of the stock is currently owned by institutional investors.

Methanex Trading Up 4.3%

Shares of NASDAQ:MEOH opened at $50.53 on Friday. The stock has a 50 day moving average of $46.20 and a 200 day moving average of $40.18. The company has a market cap of $3.91 billion, a PE ratio of 17.13 and a beta of 0.68. Methanex Corporation has a 12-month low of $25.46 and a 12-month high of $51.94. The company has a current ratio of 2.09, a quick ratio of 1.33 and a debt-to-equity ratio of 0.97.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, March 17th. Methanex’s dividend payout ratio is presently 25.08%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Zacks Research upgraded Methanex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 27th. Raymond James Financial lowered shares of Methanex from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 14th. Scotiabank reissued an “outperform” rating on shares of Methanex in a report on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of Methanex in a research report on Monday, December 29th. Finally, UBS Group increased their price target on shares of Methanex from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Methanex currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

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).