Connor Clark & Lunn Investment Management Ltd. Has $18.94 Million Stock Holdings in Methanex Co. (NASDAQ:MEOH)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 72.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 458,483 shares of the specialty chemicals company's stock after selling 1,214,698 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.68% of Methanex worth $18,941,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MEOH. PCJ Investment Counsel Ltd. bought a new stake in Methanex in the 3rd quarter valued at about $471,000. MQS Management LLC acquired a new stake in shares of Methanex in the third quarter valued at approximately $401,000. Chartwell Investment Partners LLC boosted its stake in shares of Methanex by 27.8% in the third quarter. Chartwell Investment Partners LLC now owns 202,863 shares of the specialty chemicals company's stock valued at $8,387,000 after buying an additional 44,173 shares during the period. Westbourne Investment Advisors Inc. grew its position in Methanex by 1.6% during the third quarter. Westbourne Investment Advisors Inc. now owns 110,606 shares of the specialty chemicals company's stock worth $4,572,000 after buying an additional 1,789 shares in the last quarter. Finally, US Bancorp DE increased its stake in Methanex by 34.2% during the 3rd quarter. US Bancorp DE now owns 13,888 shares of the specialty chemicals company's stock worth $574,000 after acquiring an additional 3,540 shares during the period. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MEOH has been the subject of a number of recent analyst reports. Raymond James cut their target price on Methanex from $62.00 to $54.00 and set an "outperform" rating for the company in a research report on Wednesday, September 11th. UBS Group cut their price objective on shares of Methanex from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Barclays raised their target price on shares of Methanex from $44.00 to $46.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $55.00 price target on shares of Methanex in a report on Tuesday, September 3rd. Finally, Piper Sandler lifted their price objective on shares of Methanex from $68.00 to $71.00 and gave the company an "overweight" rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.88.

Methanex Price Performance

Shares of NASDAQ:MEOH traded up $0.11 during trading on Thursday, hitting $44.53. 27,590 shares of the company were exchanged, compared to its average volume of 300,227. 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 company has a market capitalization of $3.00 billion, a P/E ratio of 20.76 and a beta of 1.36. Methanex Co. has a 1-year low of $36.13 and a 1-year high of $56.43. The business's 50 day moving average is $41.18 and its 200-day moving average is $45.69.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, December 17th. Methanex's payout ratio is currently 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.