Public Employees Retirement System of Ohio Buys Shares of 26,397 Methanex Co. (NASDAQ:MEOH)

Public Employees Retirement System of Ohio acquired a new position in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 26,397 shares of the specialty chemicals company's stock, valued at approximately $1,092,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in shares of Methanex by 16.3% in the second quarter. Bank of Montreal Can now owns 1,136,436 shares of the specialty chemicals company's stock valued at $55,406,000 after buying an additional 159,542 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Methanex by 1,495.7% during the third quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company's stock worth $5,739,000 after purchasing an additional 130,127 shares in the last quarter. Intact Investment Management Inc. lifted its position in shares of Methanex by 73.2% during the second quarter. Intact Investment Management Inc. now owns 294,900 shares of the specialty chemicals company's stock worth $14,236,000 after purchasing an additional 124,600 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Methanex during the second quarter valued at approximately $5,971,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of Methanex by 9.9% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,182,168 shares of the specialty chemicals company's stock valued at $49,022,000 after purchasing an additional 106,848 shares in the last quarter. Institutional investors own 73.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MEOH shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $55.00 target price on shares of Methanex in a research note on Tuesday, September 3rd. CIBC restated an "outperformer" rating and set a $59.00 target price (up from $48.00) on shares of Methanex in a research report on Tuesday, December 10th. Barclays lifted their price target on shares of Methanex from $44.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Raymond James cut their price objective on shares of Methanex from $62.00 to $54.00 and set an "outperform" rating on the stock in a report on Wednesday, September 11th. Finally, StockNews.com raised shares of Methanex from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Two 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 data from MarketBeat, Methanex presently has an average rating of "Moderate Buy" and a consensus price target of $57.25.

Methanex Trading Up 1.0 %

Methanex stock traded up $0.46 during mid-day trading on Friday, hitting $46.38. 248,267 shares of the company's stock were exchanged, compared to its average volume of 304,147. Methanex Co. has a fifty-two week low of $36.13 and a fifty-two week high of $56.43. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $3.13 billion, a P/E ratio of 21.67 and a beta of 1.40. The company's 50 day simple moving average is $43.57 and its 200-day simple moving average is $44.89.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.185 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.60%. Methanex's payout ratio is 34.58%.

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.