Northwest & Ethical Investments L.P. Grows Position in Methanex Co. (NASDAQ:MEOH)

Northwest & Ethical Investments L.P. lifted its stake in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 589.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,291 shares of the specialty chemicals company's stock after purchasing an additional 24,189 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Methanex were worth $1,411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in shares of Methanex by 15.0% during 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 in the last quarter. PCJ Investment Counsel Ltd. boosted its position in shares of Methanex by 3.6% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 11,800 shares of the specialty chemicals company's stock worth $589,000 after acquiring an additional 410 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Methanex by 15.0% in the 4th quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company's stock valued at $172,000 after acquiring an additional 450 shares during the last quarter. Bank of Hawaii lifted its stake in Methanex by 4.2% during the third quarter. Bank of Hawaii now owns 11,470 shares of the specialty chemicals company's stock worth $474,000 after purchasing an additional 465 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Methanex by 39.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock valued at $101,000 after purchasing an additional 573 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research firms have weighed in on MEOH. Cibc World Mkts raised shares of Methanex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 10th. CIBC reissued an "outperform" rating on shares of Methanex in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $55.00 price objective on shares of Methanex in a report on Friday, January 31st. Scotiabank cut Methanex from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $66.00 to $53.00 in a research report on Monday, March 10th. Finally, UBS Group upped their target price on Methanex from $53.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Methanex presently has an average rating of "Moderate Buy" and an average price target of $60.63.

Methanex Stock Performance

Shares of MEOH stock traded down $0.91 during midday trading on Wednesday, hitting $35.96. The company had a trading volume of 425,887 shares, compared to its average volume of 338,643. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 15.57 and a beta of 1.38. 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 company's 50 day simple moving average is $45.08 and its 200 day simple moving average is $44.26. Methanex Co. has a 52-week low of $35.67 and a 52-week high of $56.43.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share 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%. Research analysts anticipate that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued 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 2.06%. Methanex's dividend payout ratio is currently 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.