Methanex Corporation $MEOH Shares Sold by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp lowered its stake in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 49.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,493 shares of the specialty chemicals company’s stock after selling 21,007 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Methanex were worth $854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. NewEdge Advisors LLC purchased a new stake in shares of Methanex in the second quarter valued at about $50,000. Clearstead Advisors LLC boosted its holdings 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 purchasing an additional 1,375 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Methanex by 61.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company’s stock valued at $85,000 after purchasing an additional 812 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Methanex by 131.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock worth $99,000 after acquiring an additional 1,410 shares in the last quarter. Finally, AXA S.A. acquired a new stake in shares of Methanex in the 2nd quarter worth approximately $166,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Stock Down 0.7%

NASDAQ:MEOH opened at $55.85 on Wednesday. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of -113.98 and a beta of 0.56. Methanex Corporation has a one year low of $32.00 and a one year high of $66.75. The stock has a 50-day simple moving average of $60.28 and a 200 day simple moving average of $51.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.26 and a current ratio of 1.96.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results 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). Methanex had a positive return on equity of 2.96% and a negative net margin of 1.25%.The firm had revenue of $957.42 million during the quarter, compared to analyst estimates of $964.76 million. During the same quarter last year, the business posted $1.30 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts predict that Methanex Corporation will post 8.18 EPS for the current fiscal year.

Methanex Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BMO Capital Markets upped their price target on Methanex from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, March 18th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and issued a $69.00 target price on shares of Methanex in a research note on Friday, May 1st. Scotiabank increased their price target on Methanex from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. downgraded Methanex from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $56.00 to $65.00 in a research report on Friday, May 1st. Finally, Jefferies Financial Group upped their price target on shares of Methanex from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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).