Entropy Technologies LP Makes New Investment in Methanex Co. (NASDAQ:MEOH)

Entropy Technologies LP bought a new stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) in the fourth quarter, HoldingsChannel reports. The firm bought 4,800 shares of the specialty chemicals company’s stock, valued at approximately $240,000.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Methanex during the third quarter valued at $40,000. Blue Trust Inc. increased its stake in shares of Methanex by 56.8% in the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 896 shares in the last quarter. Legacy Wealth Asset Management LLC purchased a new position in Methanex during the 4th quarter valued at about $220,000. Quadrature Capital Ltd bought a new stake in Methanex during the third quarter worth about $294,000. Finally, XTX Topco Ltd purchased a new stake in Methanex in the third quarter worth about $299,000. 73.49% of the stock is currently owned by institutional investors.

Methanex Stock Down 0.6 %

MEOH stock opened at $46.54 on Friday. The stock has a market capitalization of $3.14 billion, a P/E ratio of 20.15 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00. Methanex Co. has a 1-year low of $36.13 and a 1-year high of $56.43. The business has a fifty day moving average price of $49.03 and a 200-day moving average price of $44.98.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share 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 analysts forecast that Methanex Co. will post 4.2 earnings per share for the current fiscal year.

Methanex Announces Dividend

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 given 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 yield of 1.59%. Methanex’s dividend payout ratio (DPR) is 32.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Scotiabank lifted their target price on shares of Methanex from $60.00 to $66.00 and gave the company a “sector outperform” rating in a report on Thursday, January 30th. Raymond James lifted their price objective on Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. UBS Group boosted their target price on Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, February 7th. CIBC raised their price target on Methanex from $59.00 to $63.00 and gave the company an “outperformer” rating in a report on Monday, February 3rd. Finally, Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.25.

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.