JPMorgan Chase & Co. Decreases Stake in Methanex Co. (NASDAQ:MEOH)

JPMorgan Chase & Co. reduced its stake in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 59.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,075 shares of the specialty chemicals company's stock after selling 10,530 shares during the quarter. JPMorgan Chase & Co.'s holdings in Methanex were worth $353,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Methanex during the 3rd quarter worth $40,000. Parkside Financial Bank & Trust lifted its holdings in shares of Methanex by 39.7% in the fourth 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 during the last quarter. Blue Trust Inc. boosted its stake in shares of Methanex by 15.0% in the 4th 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. SBI Securities Co. Ltd. bought a new stake in shares of Methanex during the 4th quarter valued at approximately $166,000. Finally, Signaturefd LLC lifted its stake in 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. Institutional investors own 73.49% of the company's stock.

Wall Street Analyst Weigh In

MEOH has been the subject of several research analyst reports. Raymond James lowered their price target on shares of Methanex from $62.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada dropped their target price on Methanex from $55.00 to $50.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Scotiabank raised Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price target on the stock in a research note on Monday. Barclays dropped their price objective 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. Finally, Piper Sandler lowered shares of Methanex from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $71.00 to $36.00 in a report on Monday, April 7th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Methanex currently has an average rating of "Moderate Buy" and a consensus target price of $46.88.

Methanex Trading Up 1.7 %

Shares of Methanex stock traded up $0.56 on Thursday, reaching $32.93. 38,591 shares of the company's stock were exchanged, compared to its average volume of 384,804. The company has a market capitalization of $2.22 billion, a P/E ratio of 14.26 and a beta of 0.93. 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 firm's 50-day moving average is $33.16 and its two-hundred day moving average is $41.82.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.05. Methanex had a net margin of 4.41% and a return on equity of 10.97%. The business 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 firm earned $0.65 earnings per share. Methanex's revenue was down 2.2% on a year-over-year basis. Sell-side analysts predict that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Monday, June 16th. Methanex's payout ratio is 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.