Methanex Co. (NASDAQ:MEOH) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,686 shares of the specialty chemicals company's stock after selling 10,640 shares during the quarter. Renaissance Technologies LLC owned approximately 0.08% of Methanex worth $2,731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in Methanex by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company's stock valued at $241,549,000 after purchasing an additional 62,467 shares during the last quarter. FMR LLC boosted its stake in shares of Methanex by 3.0% during the fourth quarter. FMR LLC now owns 3,330,889 shares of the specialty chemicals company's stock worth $166,384,000 after buying an additional 95,950 shares during the period. Vanguard Group Inc. grew its holdings in shares of Methanex by 1.8% during the fourth 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 during the last quarter. Boston Partners increased its position in Methanex by 36.0% in the 4th quarter. Boston Partners now owns 989,534 shares of the specialty chemicals company's stock valued at $49,393,000 after acquiring an additional 262,087 shares during the period. Finally, Bank of Montreal Can raised its stake in Methanex by 7.0% during 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 acquiring an additional 62,693 shares during the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group lowered their price objective on shares of Methanex from $66.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Scotiabank cut shares of Methanex from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from $66.00 to $53.00 in a report on Monday, March 10th. CIBC dropped their target price on 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 reduced their price target on Methanex from $62.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $55.00 price objective on shares of Methanex in a report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Methanex has a consensus rating of "Moderate Buy" and a consensus target price of $49.13.

Methanex Price Performance

Methanex stock opened at $30.93 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. The firm's 50-day simple moving average is $35.46 and its 200 day simple moving average is $42.43. Methanex Co. has a 52 week low of $25.46 and a 52 week high of $56.43. The firm has a market capitalization of $2.08 billion, a PE ratio of 13.39 and a beta of 1.06.

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 for the quarter, topping analysts' consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. On average, equities research analysts predict 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. Investors of record on Monday, March 17th were paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Monday, March 17th. Methanex's payout ratio is currently 32.03%.

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.

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