Centiva Capital LP Takes $409,000 Position in Methanex Corporation $MEOH

Centiva Capital LP purchased a new position in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,296 shares of the specialty chemicals company’s stock, valued at approximately $409,000.

A number of other hedge funds also recently bought and sold shares of the company. Amundi lifted its holdings in Methanex by 3.9% in the first quarter. Amundi now owns 22,791 shares of the specialty chemicals company’s stock valued at $800,000 after acquiring an additional 848 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of Methanex by 21.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 5,107 shares of the specialty chemicals company’s stock valued at $169,000 after purchasing an additional 917 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of Methanex by 47.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,997 shares of the specialty chemicals company’s stock valued at $202,000 after purchasing an additional 1,932 shares during the period. Dynamic Technology Lab Private Ltd increased its position in shares of Methanex by 37.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 27,510 shares of the specialty chemicals company’s stock valued at $911,000 after purchasing an additional 7,510 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Methanex during the 2nd quarter valued at about $695,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MEOH shares. Raymond James Financial raised their price objective on shares of Methanex from $45.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, March 10th. Royal Bank Of Canada upped their target price on shares of Methanex from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Zacks Research upgraded shares of Methanex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Methanex in a research report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce lowered Methanex from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $46.00 to $52.00 in a research note on Friday, February 6th. One equities research 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.90.

Methanex Trading Down 2.4%

Shares of NASDAQ:MEOH opened at $50.50 on Tuesday. The stock has a 50 day moving average of $48.93 and a 200 day moving average of $41.62. The company has a market cap of $3.91 billion, a PE ratio of 44.69 and a beta of 0.65. The company has a current ratio of 2.06, a quick ratio of 1.37 and a debt-to-equity ratio of 0.99. Methanex Corporation has a 12-month low of $25.46 and a 12-month high of $59.09.

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

Methanex Dividend Announcement

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

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).