Dynamic Technology Lab Private Ltd Makes New $702,000 Investment in Methanex Corporation $MEOH

Key Points

• Dynamic Technology Lab Private Ltd invested $702,000 in Methanex Corporation by purchasing 20,000 shares during the first quarter.
• Despite a year-over-year revenue decline of 13.4%, Methanex reported an earnings per share (EPS) of $0.97, surpassing estimates by $0.55.
• Methanex recently declared a quarterly dividend of $0.185 per share, with a yield of 1.9%, set to be paid on September 30th.

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,000 shares of the specialty chemicals company's stock, valued at approximately $702,000.

A number of other institutional investors have also recently bought and sold shares of MEOH. SVB Wealth LLC acquired a new position in Methanex during the first quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new position in Methanex during the first quarter valued at approximately $55,000. Headlands Technologies LLC acquired a new position in shares of Methanex in the first quarter valued at approximately $82,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Methanex in the fourth quarter valued at approximately $106,000. Finally, Deutsche Bank AG boosted its holdings in shares of Methanex by 19.9% in the first quarter. Deutsche Bank AG now owns 3,007 shares of the specialty chemicals company's stock valued at $106,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 73.49% of the company's stock.

Methanex Stock Performance

NASDAQ MEOH traded up $0.53 on Monday, hitting $39.78. 48,016 shares of the stock were exchanged, compared to its average volume of 539,119. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.13 and a quick ratio of 1.43. The business's fifty day moving average is $34.71 and its 200 day moving average is $34.02. Methanex Corporation has a 52 week low of $25.46 and a 52 week high of $54.49. The company has a market capitalization of $3.08 billion, a PE ratio of 11.73 and a beta of 0.87.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.55. Methanex had a net margin of 7.02% and a return on equity of 12.61%. The firm had revenue of $808.46 million for the quarter, compared to analyst estimates of $835.04 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The company's quarterly revenue was down 13.4% compared to the same quarter last year. Research analysts anticipate that Methanex Corporation will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 16th. Methanex's dividend payout ratio is 21.83%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James Financial set a $45.00 price target on shares of Methanex and gave the company an "outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. assumed coverage on shares of Methanex in a report on Tuesday, June 10th. They issued a "neutral" rating and a $33.00 price target for the company. Piper Sandler set a $48.00 price target on shares of Methanex and gave the company an "overweight" rating in a report on Sunday, May 18th. UBS Group reduced their price target on shares of Methanex from $51.00 to $48.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Finally, Royal Bank Of Canada upgraded shares of Methanex from a "sector perform" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average 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.