Stock Traders Purchase High Volume of Methanex Call Options (NASDAQ:MEOH)

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) saw unusually large options trading on Wednesday. Stock investors acquired 3,385 call options on the company. This is an increase of 1,497% compared to the average volume of 212 call options.

Methanex Price Performance

Methanex stock opened at $46.84 on Thursday. Methanex has a 52 week low of $25.46 and a 52 week high of $54.49. The company’s 50 day moving average price is $39.07 and its two-hundred day moving average price is $36.91. The company has a quick ratio of 1.33, a current ratio of 2.09 and a debt-to-equity ratio of 0.97. The stock has a market cap of $3.62 billion, a P/E ratio of 15.88 and a beta of 0.73.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.45). The business had revenue of $924.87 million during the quarter, compared to the consensus estimate of $977.82 million. Methanex had a net margin of 5.97% and a return on equity of 9.07%. The business’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $1.21 earnings per share. On average, equities analysts predict that Methanex will post 4.32 earnings per share for the current year.

Methanex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Wednesday, December 17th. Methanex’s dividend payout ratio is 25.08%.

Wall Street Analyst Weigh In

MEOH has been the subject of a number of recent research reports. National Bank Financial initiated coverage on shares of Methanex in a research note on Friday, September 26th. They set an “outperform” rating and a $47.00 price target for the company. Jefferies Financial Group lifted their price objective on shares of Methanex from $45.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. UBS Group upped their target price on shares of Methanex from $48.00 to $53.00 and gave the stock a “buy” rating in a report on Monday. CIBC reaffirmed an “outperform” rating on shares of Methanex in a research report on Monday, November 17th. Finally, Royal Bank Of Canada set a $50.00 price objective on Methanex and gave the stock an “outperform” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Institutional Investors Weigh In On Methanex

Hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC grew its position in Methanex by 33.3% during the third quarter. NewEdge Advisors LLC now owns 2,000 shares of the specialty chemicals company’s stock valued at $80,000 after buying an additional 500 shares during the period. Value Partners Investments Inc. raised its position in Methanex by 3.0% in the third quarter. Value Partners Investments Inc. now owns 19,842 shares of the specialty chemicals company’s stock worth $789,000 after acquiring an additional 570 shares during the period. Amundi boosted its stake in Methanex by 3.9% in the first quarter. Amundi now owns 22,791 shares of the specialty chemicals company’s stock valued at $800,000 after acquiring an additional 848 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Methanex by 4.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 20,636 shares of the specialty chemicals company’s stock valued at $820,000 after acquiring an additional 898 shares during the period. Finally, SBI Securities Co. Ltd. increased its stake in shares of Methanex by 21.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 5,107 shares of the specialty chemicals company’s stock worth $169,000 after purchasing an additional 917 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

About Methanex

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).