ExodusPoint Capital Management LP Acquires 106,581 Shares of Methanex Co. (NASDAQ:MEOH)

ExodusPoint Capital Management LP boosted its holdings in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 209.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,520 shares of the specialty chemicals company's stock after acquiring an additional 106,581 shares during the period. ExodusPoint Capital Management LP owned about 0.23% of Methanex worth $7,867,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE increased its holdings in shares of Methanex by 35.7% during the fourth quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company's stock valued at $941,000 after purchasing an additional 4,952 shares during the period. Geode Capital Management LLC increased its stake in Methanex by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company's stock valued at $4,340,000 after buying an additional 1,203 shares during the period. Steward Partners Investment Advisory LLC raised 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 buying an additional 1,245 shares in the last quarter. Barclays PLC lifted its stake in shares of Methanex by 64.9% in the 3rd quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company's stock worth $845,000 after acquiring an additional 8,047 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Methanex by 15.0% in the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock valued at $142,000 after acquiring an additional 371 shares in the last quarter. Institutional investors and hedge funds own 73.49% of the company's stock.

Methanex Stock Performance

Methanex stock traded down $3.65 during trading hours on Thursday, reaching $26.64. 361,840 shares of the company were exchanged, compared to its average volume of 353,787. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 11.51 and a beta of 1.06. Methanex Co. has a 12 month low of $25.46 and a 12 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 stock has a 50-day moving average of $40.20 and a 200 day moving average of $43.55.

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, beating the consensus estimate of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. As a group, research analysts anticipate that Methanex Co. will post 4.32 earnings per share for the current year.

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.185 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.78%. Methanex's dividend payout ratio is currently 32.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MEOH shares. Piper Sandler downgraded Methanex from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $71.00 to $36.00 in a research report on Monday. CIBC decreased their price target on shares of Methanex from $63.00 to $55.00 and set an "outperformer" rating on the stock in a research report on Thursday, April 3rd. Raymond James raised their price objective on Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 14th. UBS Group dropped their price target on Methanex from $66.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Barclays decreased their price objective on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Methanex has a consensus rating of "Moderate Buy" and a consensus price target of $51.63.

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.