36,264 Shares in Methanex Co. (NASDAQ:MEOH) Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC bought a new position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,264 shares of the specialty chemicals company's stock, valued at approximately $1,811,000. Lazard Asset Management LLC owned approximately 0.05% of Methanex at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MEOH. Legacy Wealth Asset Management LLC purchased a new stake in shares of Methanex in the fourth quarter worth about $220,000. Blue Trust Inc. lifted its position in shares of Methanex by 15.0% in the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after buying an additional 371 shares in the last quarter. Ausbil Investment Management Ltd purchased a new stake in shares of Methanex in the fourth quarter worth about $386,000. Triasima Portfolio Management inc. purchased a new stake in shares of Methanex in the fourth quarter worth about $1,540,000. Finally, Westbourne Investment Advisors Inc. lifted its position in shares of Methanex by 6.7% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 117,981 shares of the specialty chemicals company's stock worth $5,892,000 after buying an additional 7,375 shares in the last quarter. 73.49% of the stock is currently owned by hedge funds and other institutional investors.

Methanex Trading Up 0.0%

Shares of NASDAQ MEOH traded up $0.01 during midday trading on Friday, hitting $32.87. The company's stock had a trading volume of 452,746 shares, compared to its average volume of 394,198. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The business's 50 day moving average is $31.84 and its two-hundred day moving average is $41.29. Methanex Co. has a 12-month low of $25.46 and a 12-month high of $54.49. The firm has a market cap of $2.22 billion, a P/E ratio of 14.23 and a beta of 0.93.

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 for the quarter, topping the consensus estimate of $1.25 by $0.05. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The firm had revenue of $857.90 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The company's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts expect that Methanex Co. 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. Stockholders of record on Monday, June 16th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.74 annualized dividend and a dividend yield of 2.25%. Methanex's payout ratio is 24.83%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MEOH. Scotiabank upgraded Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price objective on the stock in a research report on Monday, May 5th. Royal Bank of Canada decreased their price objective on Methanex from $55.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen downgraded Methanex from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. CIBC decreased their price objective on Methanex from $47.00 to $44.00 and set an "outperformer" rating on the stock in a research report on Monday, May 5th. Finally, Piper Sandler set a $48.00 price objective on Methanex and gave the company an "overweight" rating in a research report on Sunday, May 18th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.25.

Methanex Company 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.