3 Chemicals Stocks On The Rise

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 19 points (-0.1%) at 15,282 as of Wednesday, July 10, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,222 issues advancing vs. 1,685 declining with 126 unchanged.

The Chemicals industry currently is unchanged today versus the S&P 500, which is down 0.1%. A company within the industry that fell today was Sociedad Quimica Y Minera De Chile ( SQM), up 1.6%.

TheStreet would like to highlight 3 stocks pushing the industry higher today:

3. Methanex Corporation ( MEOH) is one of the companies pushing the Chemicals industry higher today. As of noon trading, Methanex Corporation is up $0.75 (1.7%) to $44.66 on light volume. Thus far, 90,931 shares of Methanex Corporation exchanged hands as compared to its average daily volume of 447,300 shares. The stock has ranged in price between $43.97-$44.72 after having opened the day at $43.97 as compared to the previous trading day's close of $43.91.

Methanex Corporation produces, supplies, and sells methanol to petrochemical producers and distributors. The company also purchases and re-sells methanol produced by others. Methanex Corporation has a market cap of $4.2 billion and is part of the basic materials sector. Shares are up 37.0% year to date as of the close of trading on Tuesday. Currently there are 4 analysts that rate Methanex Corporation a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Methanex Corporation as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and poor profit margins. Get the full Methanex Corporation Ratings Report now.

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