Methanex Corporation (NASDAQ:MEOH) Stake Reduced by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. reduced its position in Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 31.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,064 shares of the specialty chemicals company's stock after selling 9,771 shares during the period. Triasima Portfolio Management inc.'s holdings in Methanex were worth $739,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Methanex by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company's stock valued at $241,549,000 after purchasing an additional 62,467 shares in the last quarter. FMR LLC lifted its stake in shares of Methanex by 3.0% in the 4th 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 stake in shares of Methanex by 1.8% in the 4th 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 position in Methanex by 41.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,276,649 shares of the specialty chemicals company's stock worth $44,798,000 after acquiring an additional 376,365 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Methanex by 26.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company's stock worth $53,770,000 after acquiring an additional 226,349 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Stock Down 1.0%

Shares of MEOH traded down $0.35 during trading on Friday, reaching $33.73. The company's stock had a trading volume of 326,653 shares, compared to its average volume of 462,055. The company has a fifty day moving average of $34.02 and a two-hundred day moving average of $38.04. Methanex Corporation has a twelve month low of $25.46 and a twelve month high of $54.49. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 7.72 and a beta of 0.92. The company has a quick ratio of 2.52, a current ratio of 3.17 and a debt-to-equity ratio of 0.94.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.05. Methanex had a return on equity of 12.45% and a net margin of 6.00%. The company had revenue of $857.90 million for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company posted $0.65 EPS. Methanex's quarterly revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts predict that Methanex Corporation will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.19%. Methanex's dividend payout ratio (DPR) is 24.83%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MEOH. Wall Street Zen lowered Methanex from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. CIBC reduced their price target on Methanex from $47.00 to $44.00 and set an "outperformer" rating on the stock in a research report on Monday, May 5th. Piper Sandler set a $48.00 price target on Methanex and gave the stock an "overweight" rating in a research report on Sunday, May 18th. Royal Bank Of Canada reduced their price target on Methanex from $55.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Finally, Raymond James Financial set a $45.00 price target on Methanex and gave the stock an "outperform" rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $45.63.

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.