Methanex Corporation (NASDAQ:MEOH) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its holdings in Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 13.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,224,388 shares of the specialty chemicals company's stock after acquiring an additional 147,195 shares during the quarter. Mackenzie Financial Corp owned 1.82% of Methanex worth $42,931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Methanex by 1.3% during the fourth quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company's stock worth $241,549,000 after buying an additional 62,467 shares in the last quarter. FMR LLC lifted its holdings in Methanex by 3.0% during the fourth quarter. FMR LLC now owns 3,330,889 shares of the specialty chemicals company's stock valued at $166,384,000 after purchasing an additional 95,950 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Methanex by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company's stock valued at $105,779,000 after purchasing an additional 37,658 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Methanex by 41.8% during the first quarter. Bank of New York Mellon Corp now owns 1,276,649 shares of the specialty chemicals company's stock valued at $44,798,000 after purchasing an additional 376,365 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Methanex by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,047,978 shares of the specialty chemicals company's stock valued at $52,334,000 after purchasing an additional 50,075 shares in the last quarter. Institutional investors and hedge funds own 73.49% of the company's stock.

Methanex Trading Down 0.9%

MEOH stock traded down $0.29 during trading on Friday, reaching $33.15. 875,630 shares of the stock were exchanged, compared to its average volume of 513,884. The company has a current ratio of 2.13, a quick ratio of 2.52 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average price of $34.05 and a 200-day moving average price of $36.97. Methanex Corporation has a 1 year low of $25.46 and a 1 year high of $54.49. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 9.78 and a beta of 0.92.

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

Methanex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.74 dividend on an annualized basis and a yield of 2.2%. Methanex's payout ratio is 21.83%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MEOH. UBS Group decreased their price objective on shares of Methanex from $51.00 to $48.00 and set a "buy" rating on the stock in a report on Thursday. Wall Street Zen downgraded shares of Methanex from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. CIBC increased their price objective on shares of Methanex from $42.00 to $44.00 and gave the company an "outperformer" rating in a report on Friday. JPMorgan Chase & Co. assumed coverage on shares of Methanex in a report on Tuesday, June 10th. They set a "neutral" rating and a $33.00 price objective on the stock. Finally, Piper Sandler set a $48.00 price target on shares of Methanex and gave the stock an "overweight" rating in a research note on Sunday, May 18th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Methanex currently has an average rating of "Moderate Buy" and a consensus price target of $45.25.

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.