Short Interest in Methanex Co. (NASDAQ:MEOH) Increases By 31.1%

Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 923,100 shares, an increase of 31.1% from the April 30th total of 704,100 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 596,400 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Investors Weigh In On Methanex

Large investors have recently modified their holdings of the stock. SVB Wealth LLC bought a new stake in shares of Methanex during the 1st quarter valued at about $38,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Methanex during the 1st quarter valued at about $55,000. Parkside Financial Bank & Trust boosted its stake in Methanex by 39.7% during 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Methanex in the fourth quarter worth about $106,000. Finally, Headlands Technologies LLC purchased a new stake in Methanex in the first quarter worth about $82,000. Institutional investors own 73.49% of the company's stock.

Methanex Trading Up 0.2%

Shares of MEOH traded up $0.05 during trading hours on Thursday, reaching $33.24. 111,463 shares of the company traded hands, compared to its average volume of 396,982. The company's fifty day moving average price is $31.22 and its two-hundred day moving average price is $40.79. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 14.41 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. Methanex has a 12 month low of $25.46 and a 12 month high of $54.49.

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

Methanex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 2.23%. The ex-dividend date is Monday, June 16th. Methanex's payout ratio is 24.83%.

Wall Street Analyst Weigh In

MEOH has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Royal Bank of Canada decreased their target price on shares of Methanex from $55.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen cut shares of Methanex from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Raymond James decreased their target price on shares of Methanex from $62.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, Piper Sandler set a $48.00 price target on shares of Methanex and gave the company an "overweight" rating in a report on Sunday, May 18th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.25.

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.