Methanex Co. (NASDAQ:MEOH) Short Interest Down 12.2% in February

Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX was the target of a significant decline in short interest in February. As of February 15th, there was short interest totalling 544,900 shares, a decline of 12.2% from the January 31st total of 620,600 shares. Based on an average trading volume of 362,200 shares, the short-interest ratio is currently 1.5 days. Approximately 0.8% of the company's stock are short sold.

Methanex Stock Performance

Methanex stock traded up $0.53 during midday trading on Friday, reaching $42.25. 368,677 shares of the company traded hands, compared to its average volume of 323,323. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.29 and a beta of 1.38. The business has a 50 day moving average of $47.96 and a two-hundred day moving average of $44.95. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 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%. As a group, research analysts predict that Methanex will post 4.32 earnings per share for the current year.

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Methanex Announces Dividend

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 issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.75%. Methanex's dividend payout ratio is currently 32.03%.

Institutional Trading of Methanex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new stake in Methanex during the third quarter valued at approximately $40,000. Parkside Financial Bank & Trust increased its holdings in Methanex by 39.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock valued at $101,000 after buying an additional 573 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Methanex during the fourth quarter valued at approximately $106,000. State of Wyoming purchased a new stake in Methanex during the fourth quarter valued at approximately $129,000. Finally, Blue Trust Inc. increased its stake in shares of 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 in the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Methanex from $68.00 to $71.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. Cibc World Mkts upgraded shares of Methanex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 10th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $55.00 target price on shares of Methanex in a research note on Friday, January 31st. Scotiabank upped their target price on shares of Methanex from $60.00 to $66.00 and gave the stock a "sector outperform" rating in a research note on Thursday, January 30th. Finally, CIBC reiterated an "outperform" rating on shares of Methanex in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.25.

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.