Hillsdale Investment Management Inc. Has $6.02 Million Position in Methanex Corporation $MEOH

Hillsdale Investment Management Inc. lowered its holdings in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 16.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 151,560 shares of the specialty chemicals company’s stock after selling 29,940 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Methanex were worth $6,022,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Methanex by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 2,746,051 shares of the specialty chemicals company’s stock worth $108,917,000 after acquiring an additional 336,316 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Methanex by 249.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,432,483 shares of the specialty chemicals company’s stock worth $56,939,000 after acquiring an additional 1,022,987 shares during the last quarter. Millennium Management LLC raised its position in shares of Methanex by 116.8% during the third quarter. Millennium Management LLC now owns 1,157,233 shares of the specialty chemicals company’s stock worth $46,011,000 after acquiring an additional 623,502 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Methanex by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,091,093 shares of the specialty chemicals company’s stock worth $43,383,000 after acquiring an additional 7,031 shares during the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of Methanex by 29.5% during the third quarter. Alberta Investment Management Corp now owns 992,000 shares of the specialty chemicals company’s stock worth $39,442,000 after acquiring an additional 226,000 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Trading Down 1.2%

NASDAQ MEOH opened at $59.10 on Friday. The stock has a 50-day simple moving average of $60.27 and a 200 day simple moving average of $49.81. The company has a market capitalization of $4.57 billion, a PE ratio of -120.61 and a beta of 0.60. The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.98. Methanex Corporation has a 12 month low of $31.57 and a 12 month high of $66.75.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, April 29th. The specialty chemicals company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). The company had revenue of $957.42 million during the quarter, compared to the consensus estimate of $964.76 million. Methanex had a negative net margin of 1.25% and a positive return on equity of 2.96%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 EPS. Research analysts forecast that Methanex Corporation will post 6.36 EPS for the current year.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, June 16th. Methanex’s dividend payout ratio is currently -151.02%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Methanex from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. UBS Group boosted their target price on Methanex from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Zacks Research upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Canadian Imperial Bank of Commerce restated a “neutral” rating and set a $69.00 target price on shares of Methanex in a research report on Friday, May 1st. Finally, Royal Bank Of Canada boosted their target price on Methanex from $65.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.78.

Methanex Profile

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).