Barclays PLC Buys 8,047 Shares of Methanex Co. (NASDAQ:MEOH)

Barclays PLC lifted its stake in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 64.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,447 shares of the specialty chemicals company's stock after purchasing an additional 8,047 shares during the period. Barclays PLC's holdings in Methanex were worth $845,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MEOH. EverSource Wealth Advisors LLC increased its stake in Methanex by 572.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company's stock worth $93,000 after buying an additional 1,626 shares in the last quarter. Blue Trust Inc. grew its position in shares of Methanex by 56.8% during the third quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company's stock worth $102,000 after purchasing an additional 896 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Methanex in the 2nd quarter worth approximately $201,000. Value Partners Investments Inc. lifted its holdings in Methanex by 10.4% in the 3rd quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company's stock worth $233,000 after purchasing an additional 532 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Methanex in the 3rd quarter worth approximately $294,000. 73.49% of the stock is owned by institutional investors.

Methanex Trading Up 0.0 %

Shares of MEOH stock traded up $0.02 during trading hours on Thursday, reaching $50.21. 85,785 shares of the stock were exchanged, compared to its average volume of 312,265. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. Methanex Co. has a 12-month low of $36.13 and a 12-month high of $56.43. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 23.47 and a beta of 1.37. The company's 50-day moving average price is $46.57 and its 200-day moving average price is $44.79.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a $0.185 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $0.74 annualized dividend and a dividend yield of 1.47%. Methanex's payout ratio is 34.58%.

Analysts Set New Price Targets

Several equities analysts have recently commented on MEOH shares. Cibc World Mkts raised shares of Methanex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 10th. UBS Group dropped their price objective on shares of Methanex from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Piper Sandler raised their price objective on Methanex from $68.00 to $71.00 and gave the company an "overweight" rating in a research report on Tuesday, November 19th. Raymond James boosted their target price on Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $55.00 price target on shares of Methanex in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

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.