Fort Washington Investment Advisors Inc. OH Invests $1.01 Million in Methanex Corporation (NASDAQ:MEOH)

Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 28,829 shares of the specialty chemicals company's stock, valued at approximately $1,012,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its stake in shares of Methanex by 39.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock worth $101,000 after acquiring an additional 573 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Methanex in the fourth quarter valued at about $106,000. State of Wyoming acquired a new stake in Methanex during the fourth quarter worth about $129,000. SBI Securities Co. Ltd. acquired a new stake in Methanex during the fourth quarter worth about $166,000. Finally, Signaturefd LLC raised its stake in Methanex by 15.0% during 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 period. Hedge funds and other institutional investors own 73.49% of the company's stock.

Methanex Trading Up 1.5%

Shares of MEOH stock traded up $0.54 on Tuesday, hitting $36.22. The stock had a trading volume of 885,696 shares, compared to its average volume of 416,328. The company's 50 day moving average price is $31.96 and its 200-day moving average price is $40.05. Methanex Corporation has a 1 year low of $25.46 and a 1 year high of $54.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.17 and a quick ratio of 2.52. The firm has a market capitalization of $2.44 billion, a P/E ratio of 12.15 and a beta of 0.93.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its 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. The company had revenue of $857.90 million during the quarter, compared to the consensus estimate of $1.06 billion. Methanex had a return on equity of 12.45% and a net margin of 6.00%. Methanex's revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. Analysts anticipate that Methanex Corporation will post 4.32 earnings per share for the current year.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, June 16th. Methanex's payout ratio is currently 24.83%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MEOH shares. Barclays cut their price target on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Raymond James Financial reduced their target price on Methanex from $62.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Royal Bank Of Canada lowered their price target on Methanex from $55.00 to $50.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Scotiabank raised Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price objective for the company in a research report on Monday, May 5th. Finally, Piper Sandler set a $48.00 target price on shares of Methanex and gave the company an "overweight" rating in a research report on Sunday, May 18th. 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.88.

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.