Methanex Corporation (NASDAQ:MEOH) Shares Bought by US Bancorp DE
US Bancorp DE increased its position in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 26,288 shares of the specialty chemicals company’s stock after buying an additional 40 shares during the period. US Bancorp DE’s holdings in Methanex Corporation were worth $1,157,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Creative Planning boosted its position in Methanex Corporation by 7.6% in the first quarter. Creative Planning now owns 2,152 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 152 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Methanex Corporation by 40.9% in the first quarter. Quantbot Technologies LP now owns 2,228 shares of the specialty chemicals company’s stock valued at $104,000 after buying an additional 647 shares during the period. FNY Partners Fund LP acquired a new position in shares of Methanex Corporation during the first quarter valued at about $117,000. Worth Venture Partners LLC acquired a new position in shares of Methanex Corporation during the first quarter valued at about $227,000. Finally, Korea Investment CORP acquired a new position in shares of Methanex Corporation during the first quarter valued at about $260,000. Institutional investors and hedge funds own 82.92% of the company’s stock.
Methanex Corporation (NASDAQ:MEOH) traded up 0.55% on Tuesday, hitting $45.60. 206,967 shares of the company’s stock were exchanged. Methanex Corporation has a 52-week low of $27.61 and a 52-week high of $53.35. The firm has a 50 day moving average price of $43.67 and a 200-day moving average price of $45.62. The stock has a market cap of $3.93 billion, a P/E ratio of 17.74 and a beta of 1.78.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.08 by $0.23. The firm had revenue of $669 million during the quarter, compared to the consensus estimate of $772.41 million. Methanex Corporation had a return on equity of 12.43% and a net margin of 8.92%. The business’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.34) EPS. Analysts predict that Methanex Corporation will post $3.80 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Saturday, September 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Thursday, September 14th. Methanex Corporation’s payout ratio is 47.81%.
Methanex Corporation declared that its board has initiated a stock buyback plan on Wednesday, July 26th that authorizes the company to buyback 1,660,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
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Several equities analysts have issued reports on the stock. ValuEngine upgraded shares of Methanex Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. BMO Capital Markets restated a “buy” rating on shares of Methanex Corporation in a research report on Friday, June 30th. BidaskClub upgraded shares of Methanex Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. TD Securities decreased their price target on shares of Methanex Corporation from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, July 28th. Finally, TheStreet upgraded shares of Methanex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Methanex Corporation has an average rating of “Hold” and an average target price of $56.80.
About Methanex Corporation
Methanex Corp is a Canada-based 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, as well as 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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