Arrowstreet Capital Limited Partnership Purchases New Shares in Methanex Co. (NASDAQ:MEOH)

Arrowstreet Capital Limited Partnership purchased a new stake in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 99,919 shares of the specialty chemicals company's stock, valued at approximately $4,987,000. Arrowstreet Capital Limited Partnership owned 0.15% of Methanex as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE raised its holdings in Methanex by 35.7% in the 4th quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company's stock worth $941,000 after acquiring an additional 4,952 shares during the period. Geode Capital Management LLC grew its position in shares of Methanex by 1.2% in the third quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company's stock valued at $4,340,000 after purchasing an additional 1,203 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Methanex by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company's stock worth $105,779,000 after purchasing an additional 37,658 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Methanex by 17.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company's stock valued at $415,000 after purchasing an additional 1,245 shares during the period. Finally, Barclays PLC grew its position in Methanex by 64.9% in the 3rd quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company's stock worth $845,000 after purchasing an additional 8,047 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

A number of research firms recently weighed in on MEOH. Raymond James lifted their target price on Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 14th. Piper Sandler lowered Methanex from an "overweight" rating to a "neutral" rating and cut their target price for the company from $71.00 to $36.00 in a research note on Monday, April 7th. Scotiabank cut Methanex from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the stock from $66.00 to $53.00 in a research report on Monday, March 10th. Barclays lowered their price target on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $55.00 target price on shares of Methanex in a research report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $51.63.

Methanex Price Performance

Shares of NASDAQ MEOH traded up $0.36 during midday trading on Friday, reaching $26.64. 844,540 shares of the company traded hands, compared to its average volume of 358,526. Methanex Co. has a 12 month low of $25.46 and a 12 month high of $56.43. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The stock's 50-day simple moving average is $39.15 and its 200-day simple moving average is $43.35. The firm has a market cap of $1.80 billion, a PE ratio of 11.53 and a beta of 1.06.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. As a group, equities analysts anticipate that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Monday, March 17th. Methanex's dividend payout ratio (DPR) is currently 32.03%.

About Methanex

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.