Connor Clark & Lunn Investment Management Ltd. Sells 43,677 Shares of Methanex Co. (NASDAQ:MEOH)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,806 shares of the specialty chemicals company's stock after selling 43,677 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.62% of Methanex worth $20,701,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Highland Peak Capital LLC bought a new position in shares of Methanex in the fourth quarter valued at approximately $10,400,000. Amundi grew its stake in Methanex by 28.9% in the 4th quarter. Amundi now owns 21,943 shares of the specialty chemicals company's stock valued at $1,063,000 after purchasing an additional 4,925 shares during the period. PCJ Investment Counsel Ltd. increased its position in shares of Methanex by 3.6% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 11,800 shares of the specialty chemicals company's stock valued at $589,000 after purchasing an additional 410 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in shares of Methanex by 1.4% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 439,069 shares of the specialty chemicals company's stock worth $21,912,000 after purchasing an additional 5,947 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Methanex during the 4th quarter worth $14,327,000. Institutional investors own 73.49% of the company's stock.

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Analysts Set New Price Targets

MEOH has been the topic of a number of research analyst reports. UBS Group boosted their target price on shares of Methanex from $53.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Cibc World Mkts raised shares of Methanex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 10th. Scotiabank lowered Methanex from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $66.00 to $53.00 in a report on Monday, March 10th. CIBC reissued an "outperform" rating on shares of Methanex in a research report on Monday, February 3rd. Finally, Piper Sandler upped their price target on Methanex from $68.00 to $71.00 and gave the company an "overweight" rating in a research report on Tuesday, November 19th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.63.

Methanex Price Performance

NASDAQ MEOH traded up $0.10 during trading hours on Monday, reaching $37.82. 416,887 shares of the stock traded hands, compared to its average volume of 335,719. The stock has a 50 day simple moving average of $46.69 and a two-hundred day simple moving average of $44.64. Methanex Co. has a 1 year low of $35.67 and a 1 year high of $56.43. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 16.37 and a beta of 1.38.

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

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Monday, March 17th. Methanex's dividend payout ratio 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.