Trexquant Investment LP Invests $2.19 Million in Methanex Co. (NASDAQ:MEOH)

Trexquant Investment LP acquired a new stake in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 43,825 shares of the specialty chemicals company's stock, valued at approximately $2,189,000. Trexquant Investment LP owned 0.07% of Methanex at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MEOH. Geode Capital Management LLC grew its stake in Methanex by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 107,272 shares of the specialty chemicals company's stock worth $5,375,000 after purchasing an additional 2,401 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Methanex by 4.2% in the 4th quarter. Alliancebernstein L.P. now owns 717,737 shares of the specialty chemicals company's stock worth $35,844,000 after buying an additional 28,623 shares during the period. Wellington Management Group LLP increased its stake in shares of Methanex by 1.3% during the fourth quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company's stock valued at $241,549,000 after buying an additional 62,467 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Methanex during the fourth quarter valued at $4,987,000. Finally, Pictet Asset Management Holding SA lifted its stake in Methanex by 2.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,463 shares of the specialty chemicals company's stock worth $573,000 after acquiring an additional 293 shares during the period. 73.49% of the stock is currently owned by institutional investors.

Methanex Stock Performance

Shares of MEOH traded up $0.96 during trading hours on Monday, reaching $27.60. 125,512 shares of the company traded hands, compared to its average volume of 357,452. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. The business has a fifty day moving average price of $39.15 and a 200-day moving average price of $43.37. Methanex Co. has a 12-month low of $25.46 and a 12-month high of $56.43. The stock has a market capitalization of $1.86 billion, a P/E ratio of 11.95 and a beta of 1.06.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced 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 return on equity of 10.97% and a net margin of 4.41%. Equities analysts anticipate that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Monday, March 17th. Methanex's payout ratio is 32.03%.

Analysts Set New Price Targets

Several research firms have recently commented on MEOH. Piper Sandler lowered shares of Methanex from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $71.00 to $36.00 in a report on Monday, April 7th. Scotiabank downgraded shares of Methanex from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $66.00 to $53.00 in a research note on Monday, March 10th. CIBC dropped their target price on Methanex from $63.00 to $55.00 and set an "outperformer" rating on the stock in a research report on Thursday, April 3rd. Raymond James boosted their price target on Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 14th. Finally, Barclays dropped their price objective on Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.63.

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.