BlackRock Advisors LLC Has $7,974,000 Stake in Methanex Corp. (MEOH)
BlackRock Advisors LLC raised its stake in Methanex Corp. (NASDAQ:MEOH) by 37.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,010 shares of the company’s stock after buying an additional 74,000 shares during the period. BlackRock Advisors LLC owned approximately 0.31% of Methanex Corp. worth $7,974,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP purchased a new position in Methanex Corp. during the second quarter worth about $109,000. Polaris Capital Management LLC raised its position in Methanex Corp. by 19.7% in the second quarter. Polaris Capital Management LLC now owns 4,250 shares of the company’s stock worth $124,000 after buying an additional 700 shares during the last quarter. First Interstate Bank raised its position in Methanex Corp. by 19.2% in the second quarter. First Interstate Bank now owns 5,250 shares of the company’s stock worth $153,000 after buying an additional 845 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Methanex Corp. during the second quarter worth about $243,000. Finally, Mraz Amerine & Associates Inc. raised its position in Methanex Corp. by 272.0% in the second quarter. Mraz Amerine & Associates Inc. now owns 9,300 shares of the company’s stock worth $271,000 after buying an additional 6,800 shares during the last quarter. Institutional investors own 87.01% of the company’s stock.
Methanex Corp. (NASDAQ:MEOH) opened at 36.55 on Wednesday. The company’s 50-day moving average is $31.75 and its 200 day moving average is $31.01. Methanex Corp. has a one year low of $22.73 and a one year high of $44.95. The company has a market capitalization of $3.28 billion, a P/E ratio of 82.88 and a beta of 2.00.
Methanex Corp. (NASDAQ:MEOH) last posted its earnings results on Thursday, July 28th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.09. The company earned $468 million during the quarter, compared to the consensus estimate of $422.82 million. Methanex Corp. had a return on equity of 2.10% and a net margin of 3.22%. The firm’s revenue was down 26.6% compared to the same quarter last year. During the same period last year, the company posted $0.56 EPS. Analysts predict that Methanex Corp. will post ($0.76) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Wednesday, September 14th. Methanex Corp.’s dividend payout ratio is presently 305.56%.
MEOH has been the topic of a number of research analyst reports. CIBC upgraded shares of Methanex Corp. from a “sector perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a research note on Tuesday, July 5th. BMO Capital Markets raised their target price on shares of Methanex Corp. from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, September 29th. Jefferies Group restated a “buy” rating on shares of Methanex Corp. in a research report on Wednesday, July 6th. Zacks Investment Research upgraded shares of Methanex Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Scotiabank restated an “outperform” rating and issued a $35.00 price target on shares of Methanex Corp. in a research report on Wednesday, August 31st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Methanex Corp. currently has an average rating of “Buy” and a consensus target price of $39.45.
About Methanex Corp.
Methanex Corporation is a producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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