Methanex Co. (NASDAQ:MEOH) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. increased its stake in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 approximately 0.22% of Methanex worth $7,553,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. boosted its position in shares of Methanex by 81.0% during the fourth quarter. Polar Asset Management Partners Inc. now owns 188,773 shares of the specialty chemicals company's stock valued at $9,427,000 after buying an additional 84,462 shares during the period. Man Group plc grew its holdings in Methanex by 129.3% in the fourth quarter. Man Group plc now owns 368,539 shares of the specialty chemicals company's stock worth $18,405,000 after purchasing an additional 207,784 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Methanex in the fourth quarter worth $1,811,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Methanex during the fourth quarter valued at $448,000. Finally, Graham Capital Management L.P. purchased a new stake in Methanex in the fourth quarter valued at $257,000. Hedge funds and other institutional investors own 73.49% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MEOH. CIBC decreased their price objective on shares of Methanex from $47.00 to $44.00 and set an "outperformer" rating for the company in a research report on Monday, May 5th. Wall Street Zen cut shares of Methanex from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Barclays dropped their target price on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Scotiabank upgraded shares of Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price target for the company in a research note on Monday, May 5th. Finally, Piper Sandler set a $48.00 price objective on shares of Methanex and gave the stock an "overweight" rating in a research report on Sunday, May 18th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $48.25.

Methanex Stock Performance

Shares of Methanex stock traded up $0.01 on Friday, reaching $32.87. 452,746 shares of the stock were exchanged, compared to its average volume of 395,041. Methanex Co. has a 1-year low of $25.46 and a 1-year high of $54.49. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The business has a fifty day moving average price of $31.84 and a two-hundred day moving average price of $41.30. The firm has a market capitalization of $2.22 billion, a PE ratio of 14.23 and a beta of 0.93.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly 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. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The business had revenue of $857.90 million for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The company's quarterly revenue was down 2.2% on a year-over-year basis. As a group, research analysts anticipate that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

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 paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Monday, June 16th. Methanex's dividend payout ratio 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.