Intact Investment Management Inc. Has $13.11 Million Stake in Methanex Corporation (NASDAQ:MEOH)

Intact Investment Management Inc. increased its position in Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 45.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,900 shares of the specialty chemicals company's stock after acquiring an additional 116,200 shares during the period. Intact Investment Management Inc. owned approximately 0.55% of Methanex worth $13,113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MEOH. Parkside Financial Bank & Trust boosted its holdings in shares of Methanex by 39.7% during the fourth 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 last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Methanex in the 4th quarter worth $106,000. State of Wyoming purchased a new position in Methanex in the fourth quarter valued at about $129,000. SBI Securities Co. Ltd. purchased a new position in Methanex in the fourth quarter valued at about $166,000. Finally, Signaturefd LLC raised its position in Methanex by 15.0% in the fourth quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company's stock valued at $172,000 after purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 73.49% of the company's stock.

Analyst Ratings Changes

MEOH has been the subject of a number of research reports. Barclays decreased their price target on Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. CIBC decreased their price target on Methanex from $47.00 to $44.00 and set an "outperformer" rating for the company in a research note on Monday, May 5th. Raymond James Financial decreased their price target on Methanex from $62.00 to $40.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Royal Bank Of Canada decreased their target price on Methanex from $55.00 to $50.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Finally, Piper Sandler set a $48.00 target price on Methanex and gave the company an "overweight" rating in a report on Sunday, May 18th. Four 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.88.

Methanex Stock Performance

Shares of MEOH stock traded down $1.04 during mid-day trading on Tuesday, reaching $33.86. The stock had a trading volume of 1,504,381 shares, compared to its average volume of 431,563. The firm's 50 day simple moving average is $32.69 and its 200 day simple moving average is $39.70. The company has a quick ratio of 2.52, a current ratio of 3.17 and a debt-to-equity ratio of 0.94. Methanex Corporation has a one year low of $25.46 and a one year high of $54.49. The firm has a market cap of $2.28 billion, a PE ratio of 11.36 and a beta of 0.93.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.25 by $0.05. The business 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% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. On average, analysts forecast that Methanex Corporation will post 4.32 EPS for the current year.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued 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 yield of 2.19%. Methanex's dividend payout ratio is 24.83%.

Methanex Profile

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.