Angeles Investment Advisors LLC Buys 1,390 Shares of Methanex Co. (NASDAQ:MEOH)

Angeles Investment Advisors LLC grew its stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 17.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,365 shares of the specialty chemicals company’s stock after acquiring an additional 1,390 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Methanex were worth $468,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in Methanex by 4,776.7% during the fourth quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company’s stock worth $44,960,000 after purchasing an additional 881,823 shares during the period. Hillsdale Investment Management Inc. bought a new position in Methanex in the 4th quarter valued at about $38,301,000. Raymond James Financial Inc. acquired a new position in shares of Methanex in the 4th quarter valued at approximately $14,327,000. Boston Partners lifted its holdings in shares of Methanex by 36.0% during the 4th quarter. Boston Partners now owns 989,534 shares of the specialty chemicals company’s stock worth $49,393,000 after acquiring an additional 262,087 shares during the period. Finally, Highland Peak Capital LLC bought a new stake in shares of Methanex during the 4th quarter worth approximately $10,400,000. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Stock Performance

NASDAQ MEOH opened at $37.44 on Monday. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 16.21 and a beta of 1.38. Methanex Co. has a twelve month low of $35.67 and a twelve month high of $56.43. The stock has a fifty day simple moving average of $45.55 and a 200 day simple moving average of $44.36. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Sell-side analysts expect that Methanex Co. will post 4.32 EPS for the current year.

Methanex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, March 17th. Methanex’s dividend payout ratio (DPR) is presently 32.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Barclays raised their price target on shares of Methanex from $54.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of Methanex in a report on Friday, January 31st. CIBC reissued an “outperform” rating on shares of Methanex in a research note on Monday, February 3rd. Finally, Scotiabank cut shares of Methanex from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $66.00 to $53.00 in a research note on Monday, March 10th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.63.

Methanex Company Profile

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.