Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,097 shares of the specialty chemicals company’s stock after selling 1,328 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Methanex were worth $1,280,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Methanex by 24.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 295,759 shares of the specialty chemicals company’s stock valued at $17,892,000 after buying an additional 58,683 shares in the last quarter. Advisors Preferred LLC purchased a new stake in shares of Methanex during the first quarter worth approximately $103,000. Trexquant Investment LP purchased a new stake in shares of Methanex during the first quarter worth approximately $352,000. Boston Partners increased its position in shares of Methanex by 0.8% during the first quarter. Boston Partners now owns 3,713,595 shares of the specialty chemicals company’s stock worth $225,230,000 after purchasing an additional 28,442 shares in the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Methanex during the first quarter worth approximately $581,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently commented on the company. BMO Capital Markets boosted their price target on Methanex to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 23rd. ValuEngine cut Methanex from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. MED reiterated a “buy” rating on shares of Methanex in a research report on Monday, August 6th. Scotiabank boosted their price target on Methanex from $69.50 to $70.00 and gave the stock a “sector perform” rating in a research report on Monday, June 4th. Finally, BidaskClub upgraded Methanex from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Methanex has an average rating of “Buy” and an average price target of $75.55.

NASDAQ MEOH traded up $0.55 on Friday, reaching $76.00. 253,226 shares of the company were exchanged, compared to its average volume of 237,718. Methanex Co. has a fifty-two week low of $48.55 and a fifty-two week high of $78.07. The firm has a market capitalization of $5.83 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 0.76 and a beta of 1.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.18 and a current ratio of 1.62.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, July 25th. The specialty chemicals company reported $1.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.75. Methanex had a return on equity of 28.64% and a net margin of 10.90%. The business had revenue of $950.00 million for the quarter, compared to analyst estimates of $872.10 million. During the same quarter in the prior year, the company posted $0.85 EPS. The company’s quarterly revenue was up 42.0% on a year-over-year basis. sell-side analysts forecast that Methanex Co. will post 6.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 30th. Stockholders of record on Sunday, September 16th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 13th. Methanex’s dividend payout ratio (DPR) is presently 28.03%.

Methanex Profile

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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Institutional Ownership by Quarter for Methanex (NASDAQ:MEOH)

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