PDT Partners LLC Sells 15,341 Shares of Methanex Co. (NASDAQ:MEOH)

PDT Partners LLC lowered its position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 28.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,147 shares of the specialty chemicals company's stock after selling 15,341 shares during the period. PDT Partners LLC owned about 0.06% of Methanex worth $1,905,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. US Bancorp DE raised its position in shares of Methanex by 35.7% during the fourth quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company's stock worth $941,000 after purchasing an additional 4,952 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Methanex by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company's stock valued at $105,779,000 after buying an additional 37,658 shares during the period. Geode Capital Management LLC raised its holdings in shares of Methanex by 1.2% during the third quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company's stock worth $4,340,000 after acquiring an additional 1,203 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Methanex by 17.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company's stock worth $415,000 after purchasing an additional 1,245 shares during the period. Finally, Barclays PLC increased its holdings in Methanex by 64.9% during the 3rd quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company's stock worth $845,000 after purchasing an additional 8,047 shares in the last quarter. Institutional investors and hedge funds own 73.49% of the company's stock.

Analyst Ratings Changes

MEOH has been the topic of a number of research reports. Raymond James cut their price target on Methanex from $62.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Barclays reduced their price target on Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. StockNews.com downgraded shares of Methanex from a "buy" rating to a "hold" rating in a report on Thursday. Piper Sandler cut 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. Finally, UBS Group decreased their target price on shares of Methanex from $53.00 to $51.00 and set a "buy" rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $47.25.

Methanex Stock Performance

MEOH stock traded up $0.61 during trading hours on Friday, reaching $32.98. The stock had a trading volume of 988,999 shares, compared to its average volume of 380,205. The stock has a market capitalization of $2.22 billion, a PE ratio of 14.28 and a beta of 1.06. The stock has a 50-day simple moving average of $33.87 and a 200 day simple moving average of $42.00. Methanex Co. has a fifty-two week low of $25.46 and a fifty-two week high of $56.43. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.05. The business had revenue of $857.90 million during the quarter, compared to analysts' expectations of $1.06 billion. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Methanex's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. Analysts predict that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Monday, June 16th. Methanex's dividend payout ratio (DPR) is presently 32.03%.

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.