Hillsdale Investment Management Inc. Has $6.02 Million Holdings in Methanex Corporation $MEOH

Hillsdale Investment Management Inc. lessened its position in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 16.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,560 shares of the specialty chemicals company’s stock after selling 29,940 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.20% of Methanex worth $6,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC acquired a new stake in shares of Methanex during the 2nd quarter worth approximately $50,000. Clearstead Advisors LLC boosted its stake in Methanex by 336.2% in the 4th quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company’s stock valued at $71,000 after buying an additional 1,375 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Methanex by 131.5% in 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 in the last quarter. AXA S.A. acquired a new stake in Methanex in the 2nd quarter valued at $166,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Methanex in the 3rd quarter valued at $215,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Price Performance

Methanex stock opened at $59.10 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.26 and a current ratio of 1.96. The firm has a market cap of $4.57 billion, a P/E ratio of -120.61 and a beta of 0.60. The business’s fifty day moving average is $60.27 and its two-hundred day moving average is $49.81. Methanex Corporation has a 52 week low of $31.57 and a 52 week high of $66.75.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, April 29th. The specialty chemicals company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). The business had revenue of $957.42 million during the quarter, compared to analyst estimates of $964.76 million. Methanex had a positive return on equity of 2.96% and a negative net margin of 1.25%.Methanex’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 EPS. Equities research analysts forecast that Methanex Corporation will post 6.36 earnings per share for the current fiscal year.

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.74 dividend on an annualized basis and a yield of 1.3%. Methanex’s payout ratio is currently -151.02%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. lowered Methanex from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $56.00 to $65.00 in a research note on Friday, May 1st. Zacks Research raised Methanex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. UBS Group boosted their price target on Methanex from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 1st. BMO Capital Markets boosted their price target on Methanex from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings lowered Methanex from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.78.

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).