Dayah Capital LLC Trims Position in Methanex Corporation $MEOH

Dayah Capital LLC cut its stake in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 75.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 39,934 shares of the specialty chemicals company’s stock after selling 125,182 shares during the period. Methanex comprises 0.9% of Dayah Capital LLC’s portfolio, making the stock its 22nd biggest holding. Dayah Capital LLC’s holdings in Methanex were worth $2,378,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Methanex by 629.5% in the fourth quarter. Wellington Management Group LLP now owns 2,316,270 shares of the specialty chemicals company’s stock valued at $92,000,000 after acquiring an additional 1,998,763 shares during the period. Norges Bank bought a new stake in Methanex during the 4th quarter worth approximately $34,872,000. Boston Partners increased its holdings in Methanex by 686.0% during the 3rd quarter. Boston Partners now owns 963,408 shares of the specialty chemicals company’s stock worth $38,277,000 after acquiring an additional 840,831 shares during the period. Millennium Management LLC increased its holdings in Methanex by 116.8% during the 3rd 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 period. Finally, FIL Ltd lifted its stake in Methanex by 40.3% in the 4th quarter. FIL Ltd now owns 1,803,108 shares of the specialty chemicals company’s stock worth $71,520,000 after purchasing an additional 518,173 shares in the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Price Performance

MEOH stock opened at $55.20 on Friday. The firm has a 50 day simple moving average of $54.17 and a two-hundred day simple moving average of $54.46. The stock has a market cap of $4.27 billion, a PE ratio of 53.59 and a beta of 0.60. Methanex Corporation has a one year low of $32.00 and a one year high of $66.75. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.07 and a quick ratio of 1.26.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $3.87 earnings per share for the quarter, missing the consensus estimate of $4.00 by ($0.13). Methanex had a net margin of 2.07% and a return on equity of 11.35%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business posted $0.97 EPS. The business’s quarterly revenue was up 75.0% compared to the same quarter last year. On average, analysts predict that Methanex Corporation will post 8.7 EPS for the current fiscal year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.185 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.74 dividend on an annualized basis and a yield of 1.3%. Methanex’s dividend payout ratio (DPR) is presently -151.02%.

Wall Street Analyst Weigh In

MEOH has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded shares of Methanex from an “overweight” rating to a “neutral” rating and raised their price target for the company from $56.00 to $65.00 in a report on Friday, May 1st. Raymond James Financial upped their price target on shares of Methanex from $52.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Zacks Research downgraded Methanex from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Wall Street Zen raised Methanex from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Finally, Scotiabank boosted their target price on Methanex from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Methanex Company 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).