12,068 Shares in Methanex Co. (NASDAQ:MEOH) Acquired by Verition Fund Management LLC

Verition Fund Management LLC purchased a new stake in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 12,068 shares of the specialty chemicals company's stock, valued at approximately $499,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Methanex by 52,500.0% during the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company's stock valued at $70,000 after purchasing an additional 1,575 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Methanex by 572.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company's stock valued at $93,000 after purchasing an additional 1,626 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Methanex during the 2nd quarter valued at $201,000. Value Partners Investments Inc. lifted its position in Methanex by 10.4% in the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company's stock worth $233,000 after buying an additional 532 shares during the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Methanex by 5.0% in the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company's stock worth $300,000 after acquiring an additional 294 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company's stock.

Analyst Ratings Changes

MEOH has been the subject of several analyst reports. Piper Sandler raised their price objective on shares of Methanex from $68.00 to $71.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. CIBC restated an "outperformer" rating and set a $59.00 price objective (up previously from $48.00) on shares of Methanex in a report on Tuesday. Raymond James reduced their target price on Methanex from $62.00 to $54.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 11th. Barclays boosted their target price on shares of Methanex from $44.00 to $46.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Finally, UBS Group reduced their price target on shares of Methanex from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Methanex presently has an average rating of "Moderate Buy" and an average price target of $57.25.

Methanex Stock Down 2.5 %

MEOH stock traded down $1.20 during trading on Thursday, hitting $45.89. 207,349 shares of the company's stock traded hands, compared to its average volume of 300,294. The business has a fifty day simple moving average of $43.21 and a two-hundred day simple moving average of $45.16. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $3.09 billion, a P/E ratio of 21.44 and a beta of 1.40. Methanex Co. has a 1 year low of $36.13 and a 1 year high of $56.43.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Tuesday, December 17th. Methanex's payout ratio is 34.58%.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.