Hillsdale Investment Management Inc. Invests $7.21 Million in Methanex Corporation $MEOH

Hillsdale Investment Management Inc. purchased a new stake in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 181,500 shares of the specialty chemicals company’s stock, valued at approximately $7,214,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. CWM LLC bought a new stake in Methanex in the 2nd quarter valued at about $33,000. Parkside Financial Bank & Trust raised its position in shares of Methanex by 1,244.4% in the third quarter. Parkside Financial Bank & Trust now owns 1,331 shares of the specialty chemicals company’s stock valued at $53,000 after buying an additional 1,232 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Methanex in the second quarter valued at approximately $50,000. PNC Financial Services Group Inc. boosted its stake in shares of Methanex by 131.5% in the third 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 during the period. Finally, AXA S.A. acquired a new stake in Methanex during the second quarter worth approximately $166,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Stock Up 0.1%

MEOH stock opened at $49.37 on Friday. The firm has a 50-day moving average price of $45.20 and a 200-day moving average price of $39.57. Methanex Corporation has a 12 month low of $25.46 and a 12 month high of $51.94. The company has a current ratio of 2.09, a quick ratio of 1.33 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $3.82 billion, a P/E ratio of 16.74 and a beta of 0.68.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.185 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.5%. Methanex’s dividend payout ratio (DPR) is currently 25.08%.

Analyst Ratings Changes

Several brokerages have weighed in on MEOH. Royal Bank Of Canada lifted their price objective on Methanex from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Scotiabank reaffirmed an “outperform” rating on shares of Methanex in a research note on Wednesday, January 21st. UBS Group upped their price objective on shares of Methanex from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Zacks Research raised shares of Methanex from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 27th. Finally, Canadian Imperial Bank of Commerce downgraded shares of Methanex from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $46.00 to $52.00 in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Methanex has an average rating of “Moderate Buy” and a consensus price target of $48.00.

About Methanex

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).