Scheer Rowlett & Associates Investment Management Ltd. lifted its holdings in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,069 shares of the specialty chemicals company's stock after purchasing an additional 5,947 shares during the quarter. Methanex accounts for about 1.6% of Scheer Rowlett & Associates Investment Management Ltd.'s portfolio, making the stock its 22nd biggest position. Scheer Rowlett & Associates Investment Management Ltd. owned about 0.65% of Methanex worth $21,912,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. US Bancorp DE increased its position in shares of Methanex by 34.2% during the 3rd quarter. US Bancorp DE now owns 13,888 shares of the specialty chemicals company's stock worth $574,000 after purchasing an additional 3,540 shares during the last quarter. Chartwell Investment Partners LLC boosted its stake in shares of Methanex by 27.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 202,863 shares of the specialty chemicals company's stock worth $8,387,000 after acquiring an additional 44,173 shares during the period. MQS Management LLC bought a new position in shares of Methanex during the 3rd quarter worth approximately $401,000. PCJ Investment Counsel Ltd. bought a new position in shares of Methanex during the 3rd quarter worth approximately $471,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Methanex by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,102 shares of the specialty chemicals company's stock worth $8,483,000 after acquiring an additional 8,850 shares during the period. Institutional investors and hedge funds own 73.49% of the company's stock.
Methanex Price Performance
Shares of Methanex stock traded up $0.16 during midday trading on Wednesday, hitting $36.68. 722,448 shares of the company traded hands, compared to its average volume of 332,654. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 15.88 and a beta of 1.39. 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's fifty day moving average price is $47.44 and its 200-day moving average price is $44.82. Methanex Co. has a 12 month low of $35.67 and a 12 month high of $56.43.
Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. As a group, sell-side analysts forecast that Methanex Co. will post 4.32 earnings per share for the current year.
Methanex Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, March 17th. Methanex's dividend payout ratio is currently 32.03%.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Barclays lifted their target price on Methanex from $54.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Monday, February 10th. UBS Group upped their price objective on Methanex from $53.00 to $66.00 and gave the company a "buy" rating in a report on Friday, February 7th. Piper Sandler lifted their target price on Methanex from $68.00 to $71.00 and gave the stock an "overweight" rating in a report on Tuesday, November 19th. Royal Bank of Canada restated a "sector perform" rating and issued a $55.00 price target on shares of Methanex in a research note on Friday, January 31st. Finally, Raymond James raised their price target on shares of Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.63.
View Our Latest Research Report on MEOH
About Methanex
(
Free Report)
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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