Squarepoint Ops LLC Makes New $201,000 Investment in Methanex Co. (NASDAQ:MEOH)

Squarepoint Ops LLC purchased a new position in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,155 shares of the specialty chemicals company’s stock, valued at approximately $201,000.

A number of other institutional investors have also recently bought and sold shares of MEOH. Wellington Management Group LLP boosted its stake in Methanex by 15.2% during the fourth quarter. Wellington Management Group LLP now owns 4,557,093 shares of the specialty chemicals company’s stock worth $216,043,000 after buying an additional 599,778 shares in the last quarter. Vanguard Group Inc. boosted its stake in Methanex by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 2,443,939 shares of the specialty chemicals company’s stock worth $115,745,000 after buying an additional 425,104 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its stake in Methanex by 5.3% during the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,066,683 shares of the specialty chemicals company’s stock worth $47,589,000 after buying an additional 53,219 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Methanex during the first quarter worth $494,000. Finally, Value Partners Investments Inc. acquired a new stake in Methanex during the first quarter worth $201,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Stock Performance

Shares of NASDAQ:MEOH opened at $42.13 on Monday. The stock has a market capitalization of $2.84 billion, a P/E ratio of 17.85 and a beta of 1.35. Methanex Co. has a 1-year low of $36.13 and a 1-year high of $56.43. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $42.59 and a two-hundred day moving average price of $47.03.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.10. The firm had revenue of $920.00 million during the quarter, compared to analysts’ expectations of $954.26 million. Methanex had a return on equity of 5.44% and a net margin of 4.05%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. Equities analysts predict that Methanex Co. will post 2.41 earnings per share for the current year.

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.185 per share. The ex-dividend date was Monday, September 16th. This represents a $0.74 annualized dividend and a yield of 1.76%. Methanex’s dividend payout ratio is currently 31.36%.

Analyst Ratings Changes

Several equities research analysts have recently commented on MEOH shares. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research note on Tuesday, September 3rd. Raymond James reduced their target price on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. Piper Sandler boosted their target price on shares of Methanex from $51.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. UBS Group reduced their target price on shares of Methanex from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Scotiabank upped their price target on shares of Methanex from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Methanex has a consensus rating of “Moderate Buy” and a consensus price target of $55.38.

Methanex 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.