Fmr LLC Has $166.38 Million Position in Methanex Co. (NASDAQ:MEOH)

FMR LLC lifted its holdings in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,330,889 shares of the specialty chemicals company's stock after purchasing an additional 95,950 shares during the quarter. FMR LLC owned 4.94% of Methanex worth $166,384,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Methanex during the 3rd quarter valued at about $40,000. Parkside Financial Bank & Trust raised its holdings in Methanex by 39.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock worth $101,000 after purchasing an additional 573 shares in the last quarter. Blue Trust Inc. boosted its stake in Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock valued at $142,000 after purchasing an additional 371 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Methanex during the 4th quarter valued at $166,000. Finally, Signaturefd LLC raised its stake in shares of Methanex by 15.0% in the 4th quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company's stock worth $172,000 after buying an additional 450 shares in the last quarter. 73.49% of the stock is currently owned by institutional investors.

Methanex Stock Up 0.7 %

NASDAQ:MEOH traded up $0.18 during trading hours on Friday, hitting $27.02. 923,996 shares of the company's stock traded hands, compared to its average volume of 367,919. The stock's fifty day moving average price is $37.24 and its two-hundred day moving average price is $42.94. The firm has a market cap of $1.82 billion, a P/E ratio of 11.70 and a beta of 1.06. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. Methanex Co. has a twelve month low of $25.46 and a twelve month high of $56.43.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its earnings results 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, research analysts expect that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, March 17th. Methanex's dividend payout ratio is currently 32.03%.

Analyst Ratings Changes

A number of research firms recently issued reports on MEOH. Barclays lowered their target price on Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. CIBC cut their target price on shares of Methanex from $63.00 to $55.00 and set an "outperformer" rating for the company in a research note on Thursday, April 3rd. Scotiabank lowered shares of Methanex from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $66.00 to $53.00 in a research report on Monday, March 10th. UBS Group cut their price objective on Methanex from $66.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Raymond James decreased their target price on Methanex from $62.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $49.13.

Methanex 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.