Methanex Co. (NASDAQ:MEOH) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. lifted its holdings in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 7.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,700 shares of the specialty chemicals company's stock after purchasing an additional 17,500 shares during the quarter. Intact Investment Management Inc. owned about 0.38% of Methanex worth $12,876,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Methanex during the 3rd quarter valued at approximately $40,000. Parkside Financial Bank & Trust grew its holdings in shares of Methanex by 39.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock valued at $101,000 after buying an additional 573 shares during the last quarter. Blue Trust Inc. increased its position 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 acquiring an additional 371 shares during the period. SBI Securities Co. Ltd. purchased a new position in Methanex in the 4th quarter worth $166,000. Finally, Legacy Wealth Asset Management LLC acquired a new stake in Methanex during the 4th quarter worth about $220,000. Institutional investors and hedge funds own 73.49% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank of Canada restated a "sector perform" rating and issued a $55.00 price objective on shares of Methanex in a research note on Friday, January 31st. Piper Sandler raised their price target on shares of Methanex from $68.00 to $71.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 19th. CIBC reaffirmed an "outperform" rating on shares of Methanex in a report on Monday, February 3rd. UBS Group raised 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. Finally, Barclays upped their price target on shares of Methanex from $54.00 to $57.00 and gave the company an "equal weight" rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.63.

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Methanex Stock Performance

MEOH traded down $0.08 on Tuesday, reaching $37.74. The stock had a trading volume of 264,017 shares, compared to its average volume of 334,729. The business's 50-day moving average price is $46.43 and its two-hundred day moving average price is $44.58. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. Methanex Co. has a 12-month low of $35.67 and a 12-month high of $56.43. The company has a market cap of $2.54 billion, a P/E ratio of 16.34 and a beta of 1.38.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly earnings results 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%. Sell-side analysts forecast that Methanex Co. will post 4.32 earnings per share for the current year.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.96%. Methanex's dividend payout ratio (DPR) is 32.03%.

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.