Bank of Montreal Can lifted its position in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 7.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 957,677 shares of the specialty chemicals company's stock after acquiring an additional 62,693 shares during the quarter. Bank of Montreal Can owned approximately 1.42% of Methanex worth $47,794,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Methanex in the 3rd quarter worth about $40,000. Parkside Financial Bank & Trust raised its position in shares of Methanex by 39.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock valued at $101,000 after buying an additional 573 shares in the last quarter. Blue Trust Inc. lifted its stake in Methanex by 15.0% during the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after purchasing an additional 371 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Methanex in the fourth quarter worth approximately $166,000. Finally, Signaturefd LLC grew its position in Methanex by 15.0% during the fourth quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company's stock valued at $172,000 after acquiring an additional 450 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages recently weighed in on MEOH. Barclays dropped their target price on Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Piper Sandler lowered shares of Methanex from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $71.00 to $36.00 in a report on Monday, April 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $55.00 price objective on shares of Methanex in a research note on Tuesday, April 1st. Scotiabank cut Methanex from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $66.00 to $53.00 in a research note on Monday, March 10th. Finally, UBS Group lowered their price target on Methanex from $66.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $49.13.
View Our Latest Analysis on Methanex
Methanex Stock Performance
NASDAQ:MEOH traded down $0.01 during trading hours on Tuesday, reaching $27.20. The company had a trading volume of 250,592 shares, compared to its average volume of 359,743. Methanex Co. has a 52 week low of $25.46 and a 52 week high of $56.43. The firm's 50 day moving average price is $38.65 and its 200-day moving average price is $43.27. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 11.77 and a beta of 1.06.
Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. On average, analysts forecast that Methanex Co. will post 4.32 EPS for the current year.
Methanex Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, March 17th. Methanex's dividend payout ratio is currently 32.03%.
About Methanex
(
Free Report)
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.
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