Chemicals Stocks On The Rise With Help From 3 Stocks

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.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 153 points (1.0%) at 15,892 as of Thursday, Jan. 30, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 2,359 issues advancing vs. 580 declining with 163 unchanged.

The Chemicals industry currently sits up 0.8% versus the S&P 500, which is up 1.0%. Top gainers within the industry include E.I. du Pont de Nemours & Company ( DD), up 1.5%, and LyondellBasell Industries ( LYB), up 1.3%. A company within the industry that fell today was Airgas ( ARG), up 2.1%.

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 $3.59 (6.3%) to $60.28 on heavy volume. Thus far, 1.8 million shares of Methanex Corporation exchanged hands as compared to its average daily volume of 790,300 shares. The stock has ranged in price between $59.35-$61.85 after having opened the day at $60.78 as compared to the previous trading day's close of $56.69.

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 $5.5 billion and is part of the basic materials sector. The company has a P/E ratio of 95.2, above the S&P 500 P/E ratio of 17.7. Shares are down 3.5% year-to-date as of the close of trading on Wednesday. Currently there are 4 analysts who rate Methanex Corporation a buy, no analysts rate it a sell, and 2 rate 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. Get the full Methanex Corporation Ratings Report now.

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