20,000 Shares in Methanex Corporation $MEOH Purchased by Dynamic Technology Lab Private Ltd

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 purchased a new stake in shares of Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,000 shares of the specialty chemicals company's stock, valued at approximately $702,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC acquired a new stake in Methanex during the 1st quarter valued at $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in Methanex during the 1st quarter valued at $55,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Methanex during the 4th quarter valued at $106,000. Headlands Technologies LLC acquired a new stake in Methanex during the 1st quarter valued at $82,000. Finally, State of Wyoming acquired a new stake in Methanex during the 4th quarter valued at $129,000. 73.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MEOH has been the subject of several research reports. Royal Bank Of Canada raised Methanex from a "sector perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Friday, August 1st. Raymond James Financial set a $45.00 target price on Methanex and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Scotiabank set a $50.00 price objective on Methanex and gave the stock a "sector outperform" rating in a research note on Tuesday, August 5th. Piper Sandler set a $48.00 price objective on Methanex and gave the stock an "overweight" rating in a research note on Sunday, May 18th. Finally, CIBC boosted their target price on Methanex from $42.00 to $44.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. One research 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $44.88.

Methanex Stock Down 1.3%

Shares of Methanex stock traded down $0.53 during trading on Friday, reaching $39.25. The stock had a trading volume of 267,186 shares, compared to its average volume of 395,970. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 11.58 and a beta of 0.87. The stock has a fifty day moving average price of $34.71 and a two-hundred day moving average price of $34.09. Methanex Corporation has a 52 week low of $25.46 and a 52 week high of $54.49. The company has a current ratio of 2.13, a quick ratio of 1.43 and a debt-to-equity ratio of 1.00.

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

Methanex Announces Dividend

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

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.