Methanex (NASDAQ:MEOH) Sets New 52-Week Low - Here's What Happened

Shares of Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $35.11 and last traded at $35.85, with a volume of 113358 shares. The stock had previously closed at $35.96.

Analysts Set New Price Targets

Several research firms have weighed in on MEOH. Barclays raised their target price 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. CIBC reissued an "outperform" rating on shares of Methanex in a research note on Monday, February 3rd. Raymond James upped their target price on Methanex from $54.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, January 14th. Royal Bank of Canada reissued a "sector perform" rating and issued a $55.00 price target on shares of Methanex in a report on Friday, January 31st. Finally, Scotiabank downgraded shares of Methanex from a "sector outperform" rating to a "sector perform" rating and cut their target price for the company from $66.00 to $53.00 in a research note on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.63.

Methanex Trading Down 0.7 %

The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The firm has a market capitalization of $2.36 billion, a PE ratio of 15.19 and a beta of 1.38. The firm has a fifty day moving average of $44.24 and a 200 day moving average of $44.23.

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 (EPS) for the quarter, beating 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%. Equities research analysts expect that Methanex Co. will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.185 per share. The ex-dividend date is Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 2.11%. Methanex's payout ratio is 32.03%.

Hedge Funds Weigh In On Methanex

Several institutional investors have recently made changes to their positions in MEOH. US Bancorp DE grew its position 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 worth $941,000 after acquiring an additional 4,952 shares during the last quarter. Geode Capital Management LLC boosted its position 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 worth $4,340,000 after acquiring an additional 1,203 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of Methanex by 17.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company's stock valued at $415,000 after purchasing an additional 1,245 shares during the period. Barclays PLC raised its stake in shares of Methanex by 64.9% during the third quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company's stock valued at $845,000 after purchasing an additional 8,047 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Methanex by 15.0% in the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after purchasing an additional 371 shares during the period. 73.49% of the stock is owned by institutional investors.

About Methanex

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.