208,252 Shares in Methanex Co. (NASDAQ:MEOH) Bought by Highland Peak Capital LLC

Highland Peak Capital LLC bought a new position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 208,252 shares of the specialty chemicals company’s stock, valued at approximately $10,400,000. Methanex accounts for about 5.7% of Highland Peak Capital LLC’s holdings, making the stock its 6th largest holding. Highland Peak Capital LLC owned about 0.31% of Methanex as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MEOH. Bank of New York Mellon Corp boosted its position in shares of Methanex by 4,776.7% in the fourth quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company’s stock worth $44,960,000 after buying an additional 881,823 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Methanex in the fourth quarter worth $14,327,000. Point72 Asset Management L.P. boosted its position in Methanex by 1,495.7% during the third quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company’s stock valued at $5,739,000 after purchasing an additional 130,127 shares during the last quarter. Chartwell Investment Partners LLC boosted its position in Methanex by 27.8% during the third quarter. Chartwell Investment Partners LLC now owns 202,863 shares of the specialty chemicals company’s stock valued at $8,387,000 after purchasing an additional 44,173 shares during the last quarter. Finally, Triasima Portfolio Management inc. acquired a new stake in Methanex during the fourth quarter valued at $1,540,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Trading Up 1.3 %

Methanex stock opened at $42.25 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The business’s 50-day simple moving average is $47.96 and its 200-day simple moving average is $44.95. The firm has a market capitalization of $2.85 billion, a PE ratio of 18.29 and a beta of 1.38. Methanex Co. has a 52 week low of $36.13 and a 52 week high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Equities research analysts forecast that Methanex Co. will post 4.32 earnings per share for the current year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 1.75%. Methanex’s dividend payout ratio is 32.03%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MEOH. UBS Group lifted their price objective on Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Scotiabank lifted their price objective on Methanex from $60.00 to $66.00 and gave the company a “sector outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a research report on Friday, January 31st. Cibc World Mkts upgraded Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Barclays raised their target price on Methanex from $54.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Methanex has a consensus rating of “Moderate Buy” and an average price target of $62.25.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.