Legal & General Group Plc cut its stake in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,001 shares of the specialty chemicals company's stock after selling 13,693 shares during the period. Legal & General Group Plc owned approximately 0.12% of Methanex worth $3,946,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Methanex by 1.3% during the fourth quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company's stock worth $241,549,000 after acquiring an additional 62,467 shares during the period. FMR LLC increased its position in Methanex by 3.0% during the 4th quarter. FMR LLC now owns 3,330,889 shares of the specialty chemicals company's stock worth $166,384,000 after purchasing an additional 95,950 shares during the period. Vanguard Group Inc. raised its stake in shares of Methanex by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company's stock worth $105,779,000 after buying an additional 37,658 shares in the last quarter. Boston Partners raised its stake in shares of Methanex by 36.0% during the 4th quarter. Boston Partners now owns 989,534 shares of the specialty chemicals company's stock worth $49,393,000 after buying an additional 262,087 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Methanex by 7.0% in the 4th quarter. Bank of Montreal Can now owns 957,677 shares of the specialty chemicals company's stock valued at $47,794,000 after buying an additional 62,693 shares during the period. 73.49% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Piper Sandler cut Methanex from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $71.00 to $36.00 in a research report on Monday, April 7th. Barclays cut their price target on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $55.00 price objective on shares of Methanex in a research note on Tuesday, April 1st. Raymond James lowered their target price on shares of Methanex from $62.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, UBS Group reduced their price target on shares of Methanex from $66.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.13.
Check Out Our Latest Research Report on Methanex
Methanex Price Performance
MEOH traded up $0.14 during midday trading on Friday, reaching $31.07. 311,558 shares of the company's stock were exchanged, compared to its average volume of 370,528. Methanex Co. has a 1-year low of $25.46 and a 1-year high of $56.43. The stock has a market capitalization of $2.09 billion, a PE ratio of 13.45 and a beta of 1.06. 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 business's 50-day moving average price is $35.46 and its 200 day moving average price is $42.43.
Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping 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, equities analysts anticipate that Methanex Co. will post 4.32 EPS for the current fiscal year.
Methanex Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 annualized dividend and a dividend yield of 2.38%. Methanex's dividend payout ratio is currently 32.03%.
Methanex Profile
(
Free Report)
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.
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