National Bank of Canada FI Acquires 13,976 Shares of Methanex Co. (NASDAQ:MEOH)

National Bank of Canada FI grew its position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 41.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,523 shares of the specialty chemicals company's stock after purchasing an additional 13,976 shares during the period. National Bank of Canada FI owned about 0.07% of Methanex worth $1,964,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. grew its position in shares of Methanex by 52,500.0% in the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company's stock valued at $70,000 after purchasing an additional 1,575 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Methanex by 572.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company's stock valued at $93,000 after buying an additional 1,626 shares during the last quarter. Squarepoint Ops LLC bought a new position in Methanex in the 2nd quarter worth approximately $201,000. Value Partners Investments Inc. boosted its position in shares of Methanex by 10.4% in the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company's stock valued at $233,000 after acquiring an additional 532 shares during the period. Finally, Truist Financial Corp grew its stake in shares of Methanex by 5.0% in the second quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company's stock worth $300,000 after acquiring an additional 294 shares during the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Trading Down 0.4 %

Shares of NASDAQ:MEOH traded down $0.17 during midday trading on Friday, hitting $45.72. The company had a trading volume of 398,561 shares, compared to its average volume of 300,702. The firm has a fifty day simple moving average of $43.26 and a 200 day simple moving average of $45.11. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 21.36 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. Methanex Co. has a 12 month low of $36.13 and a 12 month high of $56.43.

Methanex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.74 annualized dividend and a yield of 1.62%. Methanex's dividend payout ratio (DPR) is presently 34.58%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MEOH. UBS Group dropped their price objective on shares of Methanex from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Cibc World Mkts upgraded Methanex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Piper Sandler lifted their target price on shares of Methanex from $68.00 to $71.00 and gave the company an "overweight" rating in a research note on Tuesday, November 19th. Barclays increased their price target on Methanex from $44.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $55.00 target price on shares of Methanex in a report on Tuesday, September 3rd. Two 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. According to MarketBeat, Methanex presently has a consensus rating of "Moderate Buy" and an average target price of $57.25.

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.