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This Metric Says You Are Smart to Buy Methanex Corporation (USA) (MEOH)

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Keeping this in mind, let’s study the recent info for Methanex Corporation (USA) (NASDAQ:MEOH).

Methanex Corporation (USA) (NASDAQ:MEOH)

What does the smart money think about Methanex Corporation (USA) (NASDAQ:MEOH)?

At the end of the second quarter, a total of 23 of the hedge funds we track were bullish in this stock, a change of 15% from the first quarter. With hedge funds’ sentiment swirling, there exists a select group of key hedge fund managers who were upping their holdings considerably.

Out of the hedge funds we follow, Southpoint Capital Advisors, managed by Rob Butts and Josh Clark, holds the biggest position in Methanex Corporation (USA) (NASDAQ:MEOH). Southpoint Capital Advisors has a $111.4 million position in the stock, comprising 6.9% of its 13F portfolio. On Southpoint Capital Advisors’s heels is Millennium Management, managed by Israel Englander, which held a $26 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other peers that hold long positions include Don Morgan’s Brigade Capital, Chuck Royce’s Royce & Associates and Millennium Management Subsidiary’s Decade Capital Management.

With a general bullishness amongst the titans, particular hedge funds have been driving this bullishness. Southpoint Capital Advisors, managed by Rob Butts and Josh Clark, assembled the most valuable position in Methanex Corporation (USA) (NASDAQ:MEOH). Southpoint Capital Advisors had 111.4 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $26 million position during the quarter. The following funds were also among the new MEOH investors: Don Morgan’s Brigade Capital, Chuck Royce’s Royce & Associates, and Millennium Management Subsidiary’s Decade Capital Management.

What have insiders been doing with Methanex Corporation (USA) (NASDAQ:MEOH)?

Insider buying is best served when the primary stock in question has seen transactions within the past half-year. Over the latest 180-day time period, Methanex Corporation (USA) (NASDAQ:MEOH) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll also take a look at the relationship between both of these indicators in other stocks similar to Methanex Corporation (USA) (NASDAQ:MEOH). These stocks are The Valspar Corporation (NYSE:VAL), Rockwood Holdings, Inc. (NYSE:ROC), Cytec Industries Inc (NYSE:CYT), NewMarket Corporation (NYSE:NEU), and RPM International Inc. (NYSE:RPM). This group of stocks belong to the specialty chemicals industry and their market caps are similar to MEOH’s market cap.

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