Proficio Capital Partners LLC Takes $1.17 Million Position in Methanex Co. (NASDAQ:MEOH)

Proficio Capital Partners LLC acquired a new stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,422 shares of the specialty chemicals company’s stock, valued at approximately $1,170,000.

A number of other hedge funds have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new stake in Methanex during the 3rd quarter valued at approximately $40,000. Blue Trust Inc. boosted its stake in Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock valued at $142,000 after purchasing an additional 371 shares during the period. Legacy Wealth Asset Management LLC bought a new stake in Methanex during the 4th quarter valued at approximately $220,000. Entropy Technologies LP bought a new stake in Methanex during the 4th quarter valued at approximately $240,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Methanex in the 3rd quarter worth approximately $294,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Stock Up 1.3 %

NASDAQ MEOH opened at $42.25 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. Methanex Co. has a 52 week low of $36.13 and a 52 week high of $56.43. The stock has a fifty day moving average of $47.96 and a 200-day moving average of $44.94. The stock has a market capitalization of $2.85 billion, a P/E ratio of 18.29 and a beta of 1.38.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced 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%. On average, equities research analysts forecast that Methanex Co. will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The business also recently disclosed 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 is Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.75%. Methanex’s dividend payout ratio (DPR) is presently 32.03%.

Wall Street Analyst Weigh In

MEOH has been the subject of several analyst reports. UBS Group raised their target price on Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. CIBC reaffirmed an “outperform” rating on shares of Methanex in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of Methanex in a report on Friday, January 31st. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Raymond James raised their price target on Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Methanex has an average rating of “Moderate Buy” and an average target price 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.