D. E. Shaw & Co. Inc. trimmed its position in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 36.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,667 shares of the specialty chemicals company's stock after selling 48,358 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.13% of Methanex worth $4,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its holdings 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 worth $101,000 after purchasing an additional 573 shares during the period. Blue Trust Inc. raised its holdings in Methanex by 15.0% in the 4th 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 during the period. SBI Securities Co. Ltd. bought a new position in Methanex in the 4th quarter worth $166,000. Signaturefd LLC raised its holdings in Methanex by 15.0% in the 4th 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. Finally, Neuberger Berman Group LLC bought a new position in Methanex in the 4th quarter worth $203,000. 73.49% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on MEOH. Piper Sandler set a $48.00 target price on Methanex and gave the stock an "overweight" rating in a report on Sunday, May 18th. CIBC decreased their target price on Methanex from $47.00 to $44.00 and set an "outperformer" rating on the stock in a report on Monday, May 5th. Barclays decreased their target price on Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Scotiabank raised Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 target price on the stock in a report on Monday, May 5th. Finally, Wall Street Zen lowered Methanex from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.25.
View Our Latest Stock Report on Methanex
Methanex Price Performance
MEOH stock traded up $0.01 during trading on Friday, reaching $32.87. The company's stock had a trading volume of 452,746 shares, compared to its average volume of 394,198. Methanex Co. has a 1 year low of $25.46 and a 1 year high of $54.49. 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 company has a market capitalization of $2.22 billion, a P/E ratio of 14.23 and a beta of 0.93. The company's fifty day moving average is $31.84 and its 200-day moving average is $41.29.
Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.05. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The business had revenue of $857.90 million during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business posted $0.65 EPS. Methanex's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts expect that Methanex Co. will post 4.32 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 2.25%. Methanex's payout ratio is 24.83%.
About Methanex
(
Free Report)
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.
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