59.08 0.00 (0.00%)
After hours: 4:08PM EDT
|Bid||59.06 x 1200|
|Ask||59.08 x 800|
|Day's Range||58.32 - 60.17|
|52 Week Range||45.48 - 83.23|
|Beta (3Y Monthly)||1.32|
|PE Ratio (TTM)||8.54|
|Forward Dividend & Yield||1.32 (2.32%)|
|1y Target Est||63.07|
On April 12, U.K.-based M&G Investment Management disclosed a position in the methanol producer of 12,738,068 common shares, or nearly 16.5% of the total outstanding stock. M&G had repeatedly stated throughout 2018 that a “significant” buyback program or taking the firm private were the best paths to lifting shareholder value. Last month, M&G notified Methanex of its intent to nominate four representatives as directors at the annual shareholders meeting on April 25.
Methanex (MEOH) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Methanex Corp, the world's largest methanol producer, said on Friday that it had reached a settlement with M&G Investments in which the Canadian company handed two board seats to its biggest investor. The company said Paul Dobson, one of four directors proposed by the investor, will join the board at the April 25 annual meeting. Another director will join the board after the meeting and will be picked from a list submitted by M&G Investments.
Methanex Corporation (“Methanex” or the “Company”) (MX.TO) (MEOH) announces that it has reached a cooperation agreement (the “Agreement”) with M&G Investments (“M&G”) pursuant to which the Company will recommend Paul Dobson for election to its eleven member board of directors at the upcoming annual general meeting of shareholders (the “Meeting”) on April 25, 2019. “We are pleased to have come to a cooperation agreement with our largest shareholder that is both responsive to their views and allows us to move forward with our mutual goal of maintaining Methanex’s leading position in the methanol industry while generating strong returns for shareholders,” said Chairman of the Board, Tom Hamilton.
The British fund manager M&G Investments has settled its first foray into activism, gaining two board seats at the Canadian chemicals company Methanex, just under two weeks before a fight over board directors was scheduled to go to a vote. Methanex agreed to recommend one of the four directors M&G nominated, Paul Dobson, to join its 11-member board at a shareholder meeting on April 25, and he will be appointed to the board’s audit, finance and risk committee. Mr Dobson is the interim CEO of Hydro One Ltd, an electric power company in Ontario.
Methanex Corporation (“Methanex” or the “Company”) (MX.TO) (MEOH) announces that leading independent proxy advisor Glass Lewis and Co. (“Glass Lewis”) has recommended that Methanex shareholders vote “FOR” all the Company director nominees at the upcoming annual general meeting of shareholders on April 25, 2019.
LONDON, April 3, 2019 /PRNewswire/ -- M&G Investments, the investment manager of approximately 16.5% of the shares of Methanex Corporation ("Methanex" or the "Company") (MX.TO) (MEOH) today released the following open letter to its fellow shareholders. This focus has not changed.
On March 25, United Kingdom–based M&G Investment Management disclosed a position in the methanol producer of 12,738,068 common shares, or nearly 16.5% of those outstanding. M&G repeatedly had stated throughout 2018 that Methanex’s market value was not an “accurate reflection of the company’s intrinsic value.” In addition, M&G maintained that launching a “significant” buyback program or taking the firm private were the best paths to lift shareholder value. On the day of the disclosure, M&G formally notified Methanex of its intent to nominate four representatives as directors at the annual shareholders meeting on April 25.
Methanex Corporation (“Methanex” or the “Company”) (MX.TO) (MEOH) filed a letter to shareholders today ahead of the Company’s upcoming annual general meeting (the “Meeting”) on April 25, 2019. The letter, included below, spotlights the clear choice for shareholders: Methanex’s consistent strategy that has balanced profitable growth with a demonstrated commitment to returning excess cash to shareholders, versus M&G Investments’ (“M&G”) singular focus on divesting, not investing in the Company’s growth.
LONDON, March 28, 2019 /PRNewswire/ -- M&G Investments, the investment manager of approximately 16.5% of the shares of Methanex Corporation ("Methanex" or the "Company") (MX.TO) (MEOH) today released the following open letter to its fellow shareholders. It is precisely because of those basic principles, and because of our concerns about Methanex's corporate governance, that we have made the decision to provide Methanex shareholders with the opportunity to elect four new, highly-qualified, independent directors. Under appropriate circumstances we would continue to own Methanex indefinitely.
Methanex Corp NASDAQ/NGS:MEOHView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is extremely low for MEOH with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting MEOH. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding MEOH are favorable, with net inflows of $1.67 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Basic Materialsis falling. The rate of decline is significant relative to the trend shown over the past year. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
NEW YORK, March 28, 2019 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
M&G Investment Management Ltd., which owns a 16.5 percent stake in Vancouver-based Methanex, said in a letter to shareholders Monday that it has raised concerns with management about the risks of building the plant without a partner. M&G said it plans to nominate the directors at the company’s shareholder meeting in April because it doesn’t believe Methanex takes seriously its concerns that building the plant alone could stress its balance sheet and make it harder to pay dividends and repurchase shares. “We are concerned that there is not sufficient oversight from the independent directors within the board room to maintain financial discipline in what is a relatively indebted company in a cyclical business,” M&G said.
Urgent Change is Needed to Protect the Investment of All Methanex Shareholders Pursuing Geismar 3 Without a Partner Introduces Material Financial Risk to Methanex Shareholders M&G is Company's Largest ...
Methanex Corporation (“Methanex” or the “Company”) (MX.TO) (MEOH) confirms that it has received a letter from M&G Investment Management Limited and M&G (Lux) Investment Funds 1 (together, “M&G”) indicating that M&G is preparing to nominate individuals to the Board of Directors (the “Board”) at the Company’s upcoming meeting of shareholders on April 25, 2019. The Company has not received any formal nomination pursuant to the Advance Notice provision in its by-laws. Methanex advises shareholders no action is required with respect to M&G’s letter.
Methanex (MEOH) will make purchases of the common shares from time to time at current market price, and all such shares bought under the Normal Course Issuer Bid will be cancelled.
Methanex Corporation (the “Company” or “Methanex”) (MX.TO) (MEOH) announced today that its Board of Directors has approved a Normal Course Issuer Bid (“NCIB”) whereby the Company will purchase for cancellation up to 3,863,298 common shares ("Shares"), representing approximately 5% of the 77,265,973 Shares issued and outstanding as of March 8, 2019. Purchases under the NCIB will commence on March 18, 2019 and end no later than March 17, 2020. John Floren, President and CEO of Methanex commented, “Our announcement of a new share repurchase program builds on a long track record of returning excess cash to shareholders.
Shares of DowDuPont Inc. fell 0.7% in morning trade Wednesday, after Cowen downgraded the chemical company and the industry, citing weakening macro conditions. Analyst Charles Neivert cut his rating on DowDuPont to market perform from outperform, and reduced his industry outlook to cautious. "Our industry view has become more circumspect in light of multiple risk factors which may constrain earnings, with a particular focus on the expanding supply/demand imbalance, strained feedstock supply and logistics, low oil prices and slowing GDP growth especially in regions important to U.S. chemical trade," Neivert wrote in a note to clients. "It has been 11-to-12 years since we were so universally ambivalent about owning chemical shares." DowDuPont's stock has shed 25% over the past 12 months, while the Dow Jones Industrial Average has gained 1.9%. Neivert also downgraded Celanese Corp. , Eastman Chemical Co. , Methanex Corp. and AdvanSix Inc. , all to market perform from outperform.
Lower sales of Methanex-produced methanol, lower average realized methanol prices and higher costs dent Methanex's (MEOH) Q4 margins.
VANCOUVER, British Columbia, Jan. 31, 2019 -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that its Board of Directors has declared a quarterly dividend of.
The Vancouver, British Columbia-based company said it had net income of $1.68 per share. Earnings, adjusted for non-recurring gains, came to $1.15 per share. The methanol supplier posted revenue of $976.6 ...
VANCOUVER, British Columbia, Jan. 30, 2019 -- For the fourth quarter of 2018, Methanex (TSX:MX) (NASDAQ:MEOH) reported net income attributable to Methanex shareholders of $161.
VANCOUVER, British Columbia, Jan. 21, 2019 -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that Mr. John Floren, Methanex’s President and CEO, will speak at the.