Exencial Wealth Advisors LLC Purchases 1,447 Shares of Methanex Corporation $MEOH

Exencial Wealth Advisors LLC boosted its holdings in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 6.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,981 shares of the specialty chemicals company’s stock after buying an additional 1,447 shares during the period. Exencial Wealth Advisors LLC’s holdings in Methanex were worth $827,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Methanex in the second quarter valued at about $33,000. CWM LLC bought a new stake in Methanex during the 2nd quarter valued at approximately $33,000. SVB Wealth LLC bought a new stake in Methanex during the 1st quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd purchased a new position in Methanex in the 1st quarter worth approximately $55,000. Finally, Headlands Technologies LLC bought a new position in Methanex in the 1st quarter worth approximately $82,000. 73.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MEOH shares. CIBC increased their price objective on shares of Methanex from $42.00 to $44.00 and gave the company an “outperformer” rating in a report on Friday, August 1st. Weiss Ratings restated a “hold (c)” rating on shares of Methanex in a research report on Wednesday, October 8th. UBS Group reduced their price target on shares of Methanex from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. National Bank Financial started coverage on Methanex in a research report on Friday, September 26th. They set an “outperform” rating and a $47.00 price objective for the company. Finally, National Bankshares set a $47.00 target price on Methanex and gave the stock an “outperform” rating in a research report on Thursday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.00.

Methanex Stock Performance

Shares of NASDAQ:MEOH opened at $35.93 on Friday. The firm has a fifty day simple moving average of $37.16 and a two-hundred day simple moving average of $34.25. Methanex Corporation has a 52 week low of $25.46 and a 52 week high of $54.49. The company has a quick ratio of 1.43, a current ratio of 2.13 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $2.78 billion, a P/E ratio of 10.60 and a beta of 0.94.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.55. Methanex had a net margin of 7.02% and a return on equity of 12.61%. The firm had revenue of $808.46 million during the quarter, compared to the consensus estimate of $835.04 million. During the same quarter last year, the firm earned $0.62 EPS. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. On average, analysts expect that Methanex Corporation will post 4.32 earnings per share for the current fiscal year.

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.