Methanex Co. (NASDAQ:MEOH) Shares Sold by Northern Trust Corp

Northern Trust Corp decreased its holdings in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 40.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 75,986 shares of the specialty chemicals company's stock after selling 50,628 shares during the period. Northern Trust Corp owned 0.11% of Methanex worth $3,795,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its stake in Methanex by 39.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock worth $101,000 after acquiring an additional 573 shares in the last quarter. Blue Trust Inc. grew 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 valued at $142,000 after purchasing an additional 371 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Methanex in the fourth quarter valued at approximately $166,000. Signaturefd LLC boosted its holdings in shares of Methanex by 15.0% in the 4th 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 last quarter. Finally, Neuberger Berman Group LLC purchased a new position in Methanex in the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 73.49% of the company's stock.

Analysts Set New Price Targets

MEOH has been the topic of several research analyst reports. Piper Sandler set a $48.00 price target on shares of Methanex and gave the stock an "overweight" rating in a research report on Sunday, May 18th. Royal Bank of Canada decreased their price target 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. Scotiabank upgraded shares of Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price objective on the stock in a research note on Monday, May 5th. CIBC dropped their price target on shares of Methanex from $47.00 to $44.00 and set an "outperformer" rating on the stock in a research report on Monday, May 5th. Finally, Wall Street Zen cut Methanex from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Three 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $48.25.

Methanex Stock Performance

Methanex stock traded down $0.27 during mid-day trading on Wednesday, reaching $33.57. 20,540 shares of the stock traded hands, compared to its average volume of 393,632. Methanex Co. has a 12-month low of $25.46 and a 12-month high of $54.49. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00. The stock has a market capitalization of $2.26 billion, a PE ratio of 14.51 and a beta of 0.93. The business's 50-day moving average is $31.66 and its 200-day moving average is $41.18.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. The business had revenue of $857.90 million during the quarter, compared to analyst estimates of $1.06 billion. Methanex had a net margin of 4.41% and a return on equity of 10.97%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 EPS. As a group, sell-side analysts predict that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The firm also recently disclosed 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. 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 2.20%. Methanex's 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.