Public Employees Retirement System of Ohio Has $2.62 Million Holdings in Methanex Co. (NASDAQ:MEOH)

Public Employees Retirement System of Ohio increased its holdings in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 98.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,370 shares of the specialty chemicals company's stock after purchasing an additional 25,973 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.08% of Methanex worth $2,616,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MEOH. Blue Trust Inc. boosted its holdings in 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 purchasing an additional 371 shares in the last quarter. Ausbil Investment Management Ltd bought a new stake in Methanex in the fourth quarter worth $386,000. Triasima Portfolio Management inc. bought a new stake in Methanex in the fourth quarter worth $1,540,000. Westbourne Investment Advisors Inc. boosted its holdings in 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 purchasing an additional 7,375 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in Methanex in the fourth quarter worth $240,000. 73.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on MEOH. Royal Bank of Canada dropped their price target on shares of Methanex from $55.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. UBS Group dropped their price target on shares of Methanex from $51.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen lowered shares of Methanex from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Scotiabank raised shares of Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price target on the stock in a research report on Monday, May 5th. Finally, Piper Sandler set a $48.00 target price on Methanex and gave the company an "overweight" rating in a research note on Sunday, May 18th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $48.25.

Methanex Stock Performance

Shares of NASDAQ:MEOH traded up $0.32 on Wednesday, hitting $33.19. 278,864 shares of the company were exchanged, compared to its average volume of 398,095. The company's 50 day moving average price is $31.22 and its two-hundred day moving average price is $40.79. Methanex Co. has a one year low of $25.46 and a one year high of $54.49. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 14.37 and a beta of 0.93.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued 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 firm had revenue of $857.90 million during the quarter, compared to analysts' expectations of $1.06 billion. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Methanex's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.65 earnings per share. Research analysts expect that Methanex Co. will post 4.32 earnings per share for the current year.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 2.23%. The ex-dividend date is Monday, June 16th. Methanex's dividend payout ratio (DPR) is presently 24.83%.

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.