Crestline Management LP Lowers Position in Methanex Co. (NASDAQ:MEOH)

Crestline Management LP cut its holdings in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 241,553 shares of the specialty chemicals company's stock after selling 48,709 shares during the period. Crestline Management LP owned about 0.36% of Methanex worth $12,063,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Methanex in the 3rd quarter valued at $40,000. Parkside Financial Bank & Trust lifted its stake in shares of Methanex by 39.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock worth $101,000 after buying an additional 573 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after buying an additional 371 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Methanex during the 4th quarter worth about $166,000. Finally, Signaturefd LLC grew its stake in Methanex by 15.0% in the 4th quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company's stock valued at $172,000 after buying an additional 450 shares during the last quarter. Institutional investors own 73.49% of the company's stock.

Methanex Stock Performance

Shares of NASDAQ:MEOH traded up $0.12 during midday trading on Friday, reaching $32.44. 504,057 shares of the company traded hands, compared to its average volume of 388,447. The firm's fifty day moving average price is $32.83 and its two-hundred day moving average price is $41.72. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 14.04 and a beta of 0.93. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. Methanex Co. has a 12 month low of $25.46 and a 12 month high of $56.43.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The firm had revenue of $857.90 million for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The company's revenue was down 2.2% on a year-over-year basis. On average, equities analysts expect 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, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.74 annualized dividend and a dividend yield of 2.28%. Methanex's dividend payout ratio (DPR) is presently 24.83%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MEOH. StockNews.com downgraded shares of Methanex from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Piper Sandler cut shares of Methanex from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $71.00 to $36.00 in a research note on Monday, April 7th. Scotiabank upgraded Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 target price for the company in a research note on Monday, May 5th. UBS Group decreased their price target on Methanex from $53.00 to $51.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Barclays lowered their price target on Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Four equities research 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $46.88.

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.