Oppenheimer & Co. Inc. Makes New Investment in Methanex Co. (NASDAQ:MEOH)

Oppenheimer & Co. Inc. bought a new position in Methanex Co. (NASDAQ:MEOHGet Rating) (TSE:MX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,257 shares of the specialty chemicals company’s stock, valued at approximately $201,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Lazard Asset Management LLC increased its stake in Methanex by 37.2% in the 1st quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 302 shares during the last quarter. Van ECK Associates Corp increased its stake in Methanex by 64.7% in the 1st quarter. Van ECK Associates Corp now owns 779 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 306 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Methanex in the 1st quarter worth about $27,000. Hsbc Holdings PLC increased its stake in Methanex by 9.1% in the 1st quarter. Hsbc Holdings PLC now owns 10,197 shares of the specialty chemicals company’s stock worth $563,000 after acquiring an additional 850 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Methanex by 1.4% in the 1st quarter. CIBC Asset Management Inc now owns 67,901 shares of the specialty chemicals company’s stock worth $3,707,000 after acquiring an additional 957 shares during the last quarter. 72.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MEOH has been the subject of a number of research reports. TheStreet cut Methanex from a “b-” rating to a “c-” rating in a report on Friday, October 28th. StockNews.com upgraded Methanex from a “hold” rating to a “buy” rating in a report on Saturday, November 12th. Scotiabank upgraded Methanex from a “sector perform” rating to a “sector outperform” rating and set a $46.00 price objective for the company in a report on Monday, September 26th. They noted that the move was a valuation call. UBS Group cut their price objective on Methanex from $36.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, July 28th. Finally, Barclays cut their price objective on Methanex from $52.00 to $48.00 in a report on Tuesday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.73.

Methanex Trading Up 0.8 %

NASDAQ MEOH opened at $38.50 on Friday. Methanex Co. has a fifty-two week low of $28.73 and a fifty-two week high of $56.79. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.71 and a current ratio of 2.15. The stock has a 50 day simple moving average of $34.80 and a two-hundred day simple moving average of $39.32. The stock has a market cap of $2.69 billion, a P/E ratio of 6.03 and a beta of 1.62.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 31st. Stockholders of record on Saturday, December 17th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Friday, December 16th. Methanex’s dividend payout ratio is currently 10.95%.

About Methanex

(Get Rating)

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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Institutional Ownership by Quarter for Methanex (NASDAQ:MEOH)

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