Semanteon Capital Management LP Buys Shares of 23,852 Methanex Co. (NASDAQ:MEOH)

Semanteon Capital Management LP acquired a new position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 23,852 shares of the specialty chemicals company’s stock, valued at approximately $1,191,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Methanex during the third quarter valued at about $40,000. Parkside Financial Bank & Trust raised its position in shares of Methanex by 39.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 573 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Methanex by 15.0% in the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock worth $142,000 after acquiring an additional 371 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Methanex in the fourth quarter valued at approximately $166,000. Finally, Signaturefd LLC boosted its holdings in shares of Methanex by 15.0% in the fourth quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company’s stock valued at $172,000 after acquiring an additional 450 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MEOH shares. Raymond James upped their target price on Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. CIBC restated 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 target price on shares of Methanex in a report on Friday, January 31st. Scotiabank downgraded shares of Methanex from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $66.00 to $53.00 in a report on Monday, March 10th. Finally, UBS Group lifted their price objective on shares of Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.63.

Methanex Price Performance

MEOH stock opened at $38.32 on Friday. Methanex Co. has a one year low of $35.67 and a one year high of $56.43. The firm has a 50-day moving average of $45.75 and a two-hundred day moving average of $44.42. The firm has a market capitalization of $2.58 billion, a PE ratio of 16.59 and a beta of 1.38. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01.

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

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued 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 1.93%. Methanex’s dividend payout ratio is 32.03%.

About Methanex

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.