Mackenzie Financial Corp Purchases 226,349 Shares of Methanex Co. (NASDAQ:MEOH)

Mackenzie Financial Corp lifted its holdings in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 26.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,077,193 shares of the specialty chemicals company's stock after acquiring an additional 226,349 shares during the quarter. Mackenzie Financial Corp owned approximately 1.60% of Methanex worth $53,770,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio lifted its holdings in Methanex by 98.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 52,370 shares of the specialty chemicals company's stock worth $2,616,000 after buying an additional 25,973 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Methanex by 1.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,134 shares of the specialty chemicals company's stock worth $3,552,000 after buying an additional 965 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Methanex during the 4th quarter worth $934,000. Two Sigma Investments LP acquired a new position in Methanex during the 4th quarter worth $2,521,000. Finally, State of Wyoming acquired a new position in Methanex during the 4th quarter worth $129,000. 73.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MEOH shares. UBS Group reduced their price objective on Methanex from $51.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Piper Sandler set a $48.00 price target on Methanex and gave the company an "overweight" rating in a research note on Sunday, May 18th. Barclays cut their price target on Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. CIBC cut their price target on Methanex from $47.00 to $44.00 and set an "outperformer" rating on the stock in a research note on Monday, May 5th. Finally, Wall Street Zen downgraded Methanex from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $48.25.

Methanex Trading Down 2.6%

Methanex stock traded down $0.87 during mid-day trading on Friday, hitting $32.33. 114,031 shares of the company's stock were exchanged, compared to its average volume of 522,589. The firm has a market capitalization of $2.18 billion, a P/E ratio of 14.00 and a beta of 0.93. Methanex Co. has a fifty-two week low of $25.46 and a fifty-two week 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's 50 day simple moving average is $31.49 and its 200-day simple moving average is $41.07.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.06 billion. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The firm's revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. On average, equities analysts anticipate that Methanex Co. will post 4.32 earnings per share for the current year.

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Monday, June 16th. Methanex's payout ratio is presently 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.