Methanex Corporation (MEOH): Today's Featured Chemicals Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Methanex Corporation ( MEOH) pushed the Chemicals industry lower today making it today's featured Chemicals laggard. The industry as a whole closed the day up 0.1%. By the end of trading, Methanex Corporation fell $0.89 (-1.4%) to $61.05 on heavy volume. Throughout the day, 1,802,747 shares of Methanex Corporation exchanged hands as compared to its average daily volume of 556,800 shares. The stock ranged in price between $59.38-$61.36 after having opened the day at $61.20 as compared to the previous trading day's close of $61.94. Other companies within the Chemicals industry that declined today were: Marrone Bio Innovations ( MBII), down 3.9%, Flexible Solutions International ( FSI), down 3.3%, CVR Partners ( UAN), down 2.1% and KMG Chemicals ( KMG), down 2.1%.

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 $6.1 billion and is part of the basic materials sector. The company has a P/E ratio of 106.4, above the S&P 500 P/E ratio of 17.7. Shares are up 100.4% year to date as of the close of trading on Monday. Currently there are 4 analysts that rate Methanex Corporation a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Methanex Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the positive front, American Pacific Corporation ( APFC), up 3.7%, Taminco ( TAM), up 3.5%, Ferro ( FOE), up 3.5% and Innospec ( IOSP), up 3.1% , were all gainers within the chemicals industry with Huntsman Corporation ( HUN) being today's featured chemicals industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the chemicals industry could consider Materials Select Sector SPDR ( XLB) while those bearish on the chemicals industry could consider ProShares Short Basic Materials Fd ( SBM).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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