MQS Management LLC Invests $401,000 in Methanex Co. (NASDAQ:MEOH)

MQS Management LLC bought a new stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,704 shares of the specialty chemicals company’s stock, valued at approximately $401,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in shares of Methanex in the 1st quarter worth about $494,000. Swiss National Bank grew its holdings in shares of Methanex by 0.6% during the 1st quarter. Swiss National Bank now owns 127,500 shares of the specialty chemicals company’s stock worth $5,681,000 after acquiring an additional 700 shares during the period. Headlands Technologies LLC lifted its stake in shares of Methanex by 346.5% in the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 700 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Methanex by 5.3% during the first quarter. Russell Investments Group Ltd. now owns 108,995 shares of the specialty chemicals company’s stock valued at $4,863,000 after purchasing an additional 5,438 shares in the last quarter. Finally, M&G Plc purchased a new stake in shares of Methanex in the 1st quarter worth about $589,459,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MEOH shares. Raymond James cut their price target on Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. Barclays increased their price objective on shares of Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research note on Tuesday, September 3rd. UBS Group reduced their price target on shares of Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.50.

Methanex Stock Performance

NASDAQ:MEOH opened at $42.29 on Thursday. The stock has a 50-day simple moving average of $40.86 and a two-hundred day simple moving average of $45.89. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34. Methanex Co. has a 52-week low of $36.13 and a 52-week high of $56.43. The firm has a market capitalization of $2.85 billion, a PE ratio of 19.77 and a beta of 1.36.

Methanex 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.