Oxbow Capital Management HK Ltd Invests $21.75 Million in Methanex Co. (NASDAQ:MEOH)

Oxbow Capital Management HK Ltd purchased a new stake in Methanex Co. (NASDAQ:MEOHGet Rating) (TSE:MX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 550,000 shares of the specialty chemicals company’s stock, valued at approximately $21,752,000. Methanex comprises about 9.4% of Oxbow Capital Management HK Ltd’s holdings, making the stock its 4th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Alberta Investment Management Corp lifted its position in Methanex by 129.6% in the fourth quarter. Alberta Investment Management Corp now owns 417,455 shares of the specialty chemicals company’s stock valued at $16,538,000 after acquiring an additional 235,626 shares during the last quarter. Renaissance Group LLC lifted its position in Methanex by 9.8% in the fourth quarter. Renaissance Group LLC now owns 22,706 shares of the specialty chemicals company’s stock valued at $898,000 after acquiring an additional 2,029 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Methanex by 16,427.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 21,486 shares of the specialty chemicals company’s stock valued at $851,000 after acquiring an additional 21,356 shares during the last quarter. Renaissance Technologies LLC lifted its position in Methanex by 415.6% in the fourth quarter. Renaissance Technologies LLC now owns 433,848 shares of the specialty chemicals company’s stock valued at $17,159,000 after acquiring an additional 349,700 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Methanex by 5,803.4% in the fourth quarter. JPMorgan Chase & Co. now owns 19,186 shares of the specialty chemicals company’s stock valued at $759,000 after acquiring an additional 18,861 shares during the last quarter. 91.37% of the stock is owned by hedge funds and other institutional investors.

Shares of Methanex stock traded down $1.27 on Friday, reaching $48.73. 372,621 shares of the stock were exchanged, compared to its average volume of 534,843. Methanex Co. has a 1-year low of $29.61 and a 1-year high of $56.79. The company has a current ratio of 2.28, a quick ratio of 1.82 and a debt-to-equity ratio of 0.93. The business has a fifty day moving average price of $52.57 and a two-hundred day moving average price of $47.72. The firm has a market capitalization of $3.53 billion, a PE ratio of 7.67 and a beta of 1.71.

Methanex (NASDAQ:MEOHGet Rating) (TSE:MX) last issued its quarterly earnings results on Wednesday, April 27th. The specialty chemicals company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.16. Methanex had a net margin of 10.87% and a return on equity of 27.41%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year. Research analysts expect that Methanex Co. will post 6.22 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be given a dividend of $0.145 per share. This is a positive change from Methanex’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a yield of 1.19%. The ex-dividend date is Wednesday, June 15th. Methanex’s dividend payout ratio is presently 7.87%.

A number of equities research analysts recently weighed in on MEOH shares. TheStreet raised shares of Methanex from a “c+” rating to a “b-” rating in a research report on Monday, January 31st. Raymond James set a $58.00 price objective on shares of Methanex and gave the company a “market perform” rating in a research note on Thursday, April 28th. Piper Sandler lowered shares of Methanex from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $49.00 to $48.00 in a research note on Tuesday, May 10th. Tudor Pickering & Holt set a $44.00 price objective on shares of Methanex and gave the company a “hold” rating in a research note on Wednesday, January 26th. Finally, Barclays lifted their price objective on shares of Methanex from $60.00 to $63.00 in a research note on Monday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Methanex has an average rating of “Hold” and a consensus price target of $52.23.

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.

See Also

Want to see what other hedge funds are holding MEOH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Methanex Co. (NASDAQ:MEOHGet Rating) (TSE:MX).

Institutional Ownership by Quarter for Methanex (NASDAQ:MEOH)

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