Point72 Asset Management L.P. Acquires 12,405 Shares of Methanex Co. (NASDAQ:MEOH)

Point72 Asset Management L.P. raised its holdings in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,232 shares of the specialty chemicals company's stock after acquiring an additional 12,405 shares during the period. Point72 Asset Management L.P. owned about 0.22% of Methanex worth $7,553,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pictet Asset Management Holding SA boosted its stake in shares of Methanex by 2.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 11,463 shares of the specialty chemicals company's stock valued at $573,000 after purchasing an additional 293 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Methanex by 15.0% during 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 in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Methanex by 3.4% during the fourth quarter. Ameriprise Financial Inc. now owns 11,778 shares of the specialty chemicals company's stock valued at $588,000 after purchasing an additional 383 shares in the last quarter. PCJ Investment Counsel Ltd. boosted its stake in shares of Methanex by 3.6% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 11,800 shares of the specialty chemicals company's stock valued at $589,000 after purchasing an additional 410 shares in the last quarter. Finally, Value Partners Investments Inc. boosted its stake in shares of Methanex by 7.3% during the fourth quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company's stock valued at $302,000 after purchasing an additional 411 shares in the last quarter. Institutional investors own 73.49% of the company's stock.

Methanex Price Performance

Shares of MEOH opened at $33.63 on Tuesday. Methanex Co. has a 52-week low of $25.46 and a 52-week high of $56.43. 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 business's 50 day moving average price is $32.20 and its two-hundred day moving average price is $41.49. The firm has a market cap of $2.27 billion, a PE ratio of 14.56 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 (EPS) for the quarter, beating 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 analyst estimates of $1.06 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. The company's revenue was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Methanex Co. will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Monday, June 16th. Methanex's payout ratio is 24.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MEOH. CIBC cut their price objective on Methanex from $47.00 to $44.00 and set an "outperformer" rating on the stock in a research note on Monday, May 5th. Piper Sandler set a $48.00 price objective on Methanex and gave the stock an "overweight" rating in a research note on Sunday. Royal Bank of Canada cut their price objective on Methanex from $55.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. StockNews.com lowered Methanex from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Raymond James cut their price objective on Methanex from $62.00 to $40.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Three research 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.

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