Samlyn Capital Lowers stake in Methanex Corporation (USA) (MEOH)

Methanex Corporation (USA) (MEOH) : Samlyn Capital reduced its stake in Methanex Corporation (USA) by 15.96% during the most recent quarter end. The investment management company now holds a total of 2,302,158 shares of Methanex Corporation (USA) which is valued at $65,450,352 after selling 437,242 shares in Methanex Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Methanex Corporation (USA) makes up approximately 1.59% of Samlyn Capital’s portfolio.

Other Hedge Funds, Including , Cushing Asset Management Lp sold out all of its stake in MEOH during the most recent quarter. The investment firm sold 47,192 shares of MEOH which is valued $1,341,669.Scotia Capital boosted its stake in MEOH in the latest quarter, The investment management firm added 12,122 additional shares and now holds a total of 19,614 shares of Methanex Corporation (USA) which is valued at $557,626. Methanex Corporation (USA) makes up approx 0.01% of Scotia Capital’s portfolio. Dynamic Technology Lab Private Ltd added MEOH to its portfolio by purchasing 8,334 company shares during the most recent quarter which is valued at $236,936. Methanex Corporation (USA) makes up approx 0.06% of Dynamic Technology Lab Private Ltd’s portfolio. Finemark National Bank Trust sold out all of its stake in MEOH during the most recent quarter. The investment firm sold 800 shares of MEOH which is valued $23,144.Neuberger Berman Group reduced its stake in MEOH by selling 54,648 shares or 3.13% in the most recent quarter. The Hedge Fund company now holds 1,690,141 shares of MEOH which is valued at $48,354,934. Methanex Corporation (USA) makes up approx 0.06% of Neuberger Berman Group’s portfolio.

Methanex Corporation (USA) closed down -0.28 points or -0.87% at $32.09 with 762,281 shares getting traded on Wednesday. Post opening the session at $32.27, the shares hit an intraday low of $31.53 and an intraday high of $32.38 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Methanex Corporation (USA) reported $-0.34 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.27. The company had revenue of $468.00 million for the quarter, compared to analysts expectations of $418.79 million. The company’s revenue was down -26.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.

Investors should note that on Jul 14, 2016, Methanex Corporation (USA) announced a cash dividend of $0.2750. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Methanex Corporation (USA). Shares were Reiterated by Cowen on Aug 4, 2016 to “Outperform” and Lowered the Price Target to $ 40 from a previous price target of $43 .Methanex Corporation (USA) was Upgraded by CIBC to ” Sector Outperform” on Jul 5, 2016.

Methanex Corporation is a Canada-based producer and supplier of methanol to international markets in Asia Pacific North America Europe and South America. The Company operates three production facilities in New Zealand which supply methanol primarily to customers in Asia Pacific. Its two plants in Trinidad Titan and Atlas supply methanol markets in North America Europe Asia Pacific and South America. Its Geismar 1 facility in Louisiana supplies to customers in the United States. The Company through a joint venture facility in Egypt located on the Mediterranean Sea supplies methanol markets in Europe and Asia Pacific. Its plant in Medicine Hat Alberta supplies methanol to customers in North America. The Punta Arenas production complex in southern Chile supplies to customers in South America.

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