Charles Schwab Investment Management Inc. boosted its position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 213,435 shares of the specialty chemicals company's stock after buying an additional 8,333 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.32% of Methanex worth $10,660,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. US Bancorp DE increased its position in shares of Methanex by 35.7% in the fourth quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company's stock valued at $941,000 after acquiring an additional 4,952 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Methanex by 17.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company's stock worth $415,000 after purchasing an additional 1,245 shares during the last quarter. Barclays PLC raised its stake in shares of Methanex by 64.9% during 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 in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Methanex by 15.0% in the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock valued at $142,000 after buying an additional 371 shares during the last quarter. Institutional investors own 73.49% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on MEOH. UBS Group boosted their target price on shares of Methanex from $53.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $55.00 target price on shares of Methanex in a report on Friday, January 31st. Scotiabank cut Methanex from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the stock from $66.00 to $53.00 in a report on Monday, March 10th. Barclays upped their price objective on Methanex from $54.00 to $57.00 and gave the company an "equal weight" rating in a research note on Monday, February 10th. Finally, Raymond James lifted their target price on Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 14th. Three equities research 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.63.
Check Out Our Latest Research Report on Methanex
Methanex Price Performance
NASDAQ MEOH traded down $0.91 during midday trading on Wednesday, hitting $35.96. The company had a trading volume of 408,352 shares, compared to its average volume of 338,578. The company has a market capitalization of $2.42 billion, a PE ratio of 15.57 and a beta of 1.38. Methanex Co. has a twelve month low of $35.67 and a twelve month high of $56.43. 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 50-day moving average price of $45.08 and a 200-day moving average price of $44.26.
Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings data 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%. As a group, analysts anticipate that Methanex Co. will post 4.32 earnings per share for the current fiscal year.
Methanex Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 2.06%. Methanex's dividend payout ratio is currently 32.03%.
Methanex Profile
(
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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