Northwestern Mutual Wealth Management Co. Has $802,000 Holdings in Methanex Corporation $MEOH

Northwestern Mutual Wealth Management Co. lifted its position in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 44,780.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,196 shares of the specialty chemicals company’s stock after buying an additional 20,151 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Methanex were worth $802,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MEOH. Connor Clark & Lunn Investment Management Ltd. increased 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 buying an additional 1,022,987 shares during the period. Boston Partners increased its position in shares of Methanex by 686.0% during the third quarter. Boston Partners now owns 963,408 shares of the specialty chemicals company’s stock worth $38,277,000 after buying an additional 840,831 shares during the period. Millennium Management LLC increased 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 buying an additional 623,502 shares during the period. Vanguard Group Inc. grew its stake in 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 purchasing an additional 336,316 shares during the period. Finally, TD Asset Management Inc grew its stake in Methanex by 87.1% during the third quarter. TD Asset Management Inc now owns 689,461 shares of the specialty chemicals company’s stock worth $27,417,000 after purchasing an additional 320,964 shares during the period. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Methanex Trading Up 1.2%

NASDAQ MEOH opened at $58.29 on Tuesday. The company has a market cap of $4.51 billion, a price-to-earnings ratio of -118.96 and a beta of 0.56. Methanex Corporation has a 52 week low of $32.00 and a 52 week high of $66.75. The business has a 50 day moving average price of $60.66 and a 200-day moving average price of $50.89. The company has a quick ratio of 1.26, a current ratio of 1.96 and a debt-to-equity ratio of 0.98.

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 the consensus estimate of $0.38 by ($0.08). The firm had revenue of $957.42 million for 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 was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 EPS. As a group, equities analysts expect that Methanex Corporation will post 6.36 earnings per share for the current fiscal year.

Methanex Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Raymond James Financial raised their target price on Methanex from $52.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. UBS Group raised their target price on Methanex from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. BMO Capital Markets raised their target price on Methanex from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 18th. Wall Street Zen upgraded shares of Methanex from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. cut shares of Methanex from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $56.00 to $65.00 in a 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.78.

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).