Lombard Odier Asset Management USA Corp Has $1.69 Million Stock Holdings in Methanex Corporation $MEOH

Lombard Odier Asset Management USA Corp trimmed its stake in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 68.5% in the third quarter, Holdings Channel reports. The firm owned 42,500 shares of the specialty chemicals company’s stock after selling 92,369 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Methanex were worth $1,690,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Millennium Management LLC boosted its holdings in shares of Methanex by 116.8% in the 3rd quarter. Millennium Management LLC now owns 1,157,233 shares of the specialty chemicals company’s stock valued at $46,011,000 after buying an additional 623,502 shares during the last quarter. Centiva Capital LP acquired a new position in Methanex during the third quarter worth $409,000. Alliancebernstein L.P. raised its position in Methanex by 20.6% during the third quarter. Alliancebernstein L.P. now owns 621,119 shares of the specialty chemicals company’s stock worth $24,696,000 after acquiring an additional 106,092 shares in the last quarter. Ameriprise Financial Inc. raised its position in Methanex by 4.5% during the third quarter. Ameriprise Financial Inc. now owns 20,636 shares of the specialty chemicals company’s stock worth $820,000 after acquiring an additional 898 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Methanex by 7.9% in the third quarter. Lazard Asset Management LLC now owns 69,235 shares of the specialty chemicals company’s stock valued at $2,753,000 after acquiring an additional 5,069 shares during the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Price Performance

NASDAQ:MEOH opened at $50.50 on Tuesday. The company has a market cap of $3.91 billion, a P/E ratio of 44.69 and a beta of 0.65. The firm’s fifty day moving average price is $48.93 and its two-hundred day moving average price is $41.62. Methanex Corporation has a one year low of $25.46 and a one year high of $59.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.06 and a quick ratio of 1.37.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Thursday, March 5th. The specialty chemicals company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.95). The company had revenue of $968.81 million for the quarter, compared to analyst estimates of $1.03 billion. Methanex had a return on equity of 5.35% and a net margin of 2.21%.The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 EPS. Equities analysts expect that Methanex Corporation will post 4.32 earnings per share for the current year.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.185 per share. The ex-dividend date is Tuesday, March 17th. This represents a $0.74 annualized dividend and a yield of 1.5%. Methanex’s dividend payout ratio (DPR) is 65.49%.

Wall Street Analyst Weigh In

MEOH has been the subject 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. Raymond James Financial upped their target price on shares of Methanex from $45.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, March 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Methanex in a report on Monday, December 29th. Royal Bank Of Canada boosted their price target on Methanex from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Finally, Zacks Research upgraded Methanex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Methanex presently has an average rating of “Moderate Buy” and an average target price of $49.90.

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).