Polar Asset Management Partners Inc. Buys 84,462 Shares of Methanex Co. (NASDAQ:MEOH)

Polar Asset Management Partners Inc. lifted its position in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 81.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,773 shares of the specialty chemicals company's stock after purchasing an additional 84,462 shares during the period. Polar Asset Management Partners Inc. owned about 0.28% of Methanex worth $9,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MEOH. Value Partners Investments Inc. lifted its stake in Methanex by 7.3% in the fourth quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company's stock valued at $302,000 after buying an additional 411 shares during the period. Mackenzie Financial Corp lifted its stake in Methanex by 26.6% in the fourth quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company's stock valued at $53,770,000 after purchasing an additional 226,349 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Methanex by 98.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 52,370 shares of the specialty chemicals company's stock worth $2,616,000 after purchasing an additional 25,973 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Methanex by 1.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,134 shares of the specialty chemicals company's stock worth $3,552,000 after purchasing an additional 965 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in Methanex in the 4th quarter valued at $934,000. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MEOH has been the subject of several research analyst reports. Scotiabank raised 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. CIBC decreased their price target on shares of Methanex from $47.00 to $44.00 and set an "outperformer" rating for the company in a research note on Monday, May 5th. Raymond James cut their price target on shares of Methanex from $62.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Royal Bank of Canada decreased their target price on shares of Methanex from $55.00 to $50.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Finally, Piper Sandler set a $48.00 target price on Methanex and gave the company 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.25.

Methanex Trading Down 2.0%

MEOH traded down $0.66 on Friday, hitting $32.54. The company had a trading volume of 364,139 shares, compared to its average volume of 397,234. Methanex Co. has a 12-month low of $25.46 and a 12-month high of $54.49. The company has a market cap of $2.19 billion, a PE ratio of 14.09 and a beta of 0.93. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. The business's fifty day simple moving average is $31.40 and its 200 day simple moving average is $40.99.

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 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. The company had revenue of $857.90 million for the quarter, compared to the consensus estimate of $1.06 billion. Methanex had a net margin of 4.41% and a return on equity of 10.97%. The firm's revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. Equities research analysts expect that Methanex Co. will post 4.32 EPS for the current year.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.185 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.74 annualized dividend and a dividend yield of 2.27%. 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.