Cyrus Capital Partners L.P. Takes $6.24 Million Position in Methanex Co. (NASDAQ:MEOH)

Cyrus Capital Partners L.P. purchased a new position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 125,000 shares of the specialty chemicals company's stock, valued at approximately $6,242,000. Methanex makes up 1.8% of Cyrus Capital Partners L.P.'s investment portfolio, making the stock its 3rd largest holding. Cyrus Capital Partners L.P. owned approximately 0.19% of Methanex at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Methanex in the third quarter worth approximately $40,000. Parkside Financial Bank & Trust lifted its position in Methanex by 39.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock valued at $101,000 after acquiring an additional 573 shares in the last quarter. Blue Trust Inc. boosted its stake in Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock valued at $142,000 after purchasing an additional 371 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Methanex in the 4th quarter worth $166,000. Finally, Signaturefd LLC raised its stake in shares of Methanex by 15.0% in the fourth quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company's stock worth $172,000 after purchasing an additional 450 shares during the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Stock Performance

NASDAQ:MEOH traded up $0.61 during mid-day trading on Friday, hitting $32.98. 988,999 shares of the company traded hands, compared to its average volume of 380,205. 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 stock's fifty day moving average price is $33.87 and its 200-day moving average price is $42.00. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 14.28 and a beta of 1.06. Methanex Co. has a one year low of $25.46 and a one year high of $56.43.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.05. The business had revenue of $857.90 million during the quarter, compared to analyst estimates of $1.06 billion. Methanex had a net margin of 4.41% and a return on equity of 10.97%. The company's revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. Research analysts anticipate that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, June 16th. Methanex's dividend payout ratio (DPR) is 32.03%.

Analysts Set New Price Targets

MEOH has been the topic of several recent analyst reports. Scotiabank cut Methanex from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $66.00 to $53.00 in a research report on Monday, March 10th. UBS Group dropped their price target on shares of Methanex from $53.00 to $51.00 and set a "buy" rating on the stock in a report on Thursday. CIBC decreased their price objective on shares of Methanex from $55.00 to $47.00 and set an "outperformer" rating for the company in a report on Tuesday. Barclays dropped their target price on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Finally, Piper Sandler lowered shares of Methanex from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $71.00 to $36.00 in a research note on Monday, April 7th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $47.25.

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.