Mackenzie Financial Corp boosted its holdings in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 777,968 shares of the specialty chemicals company's stock after purchasing an additional 38,119 shares during the quarter. Mackenzie Financial Corp owned about 1.15% of Methanex worth $36,819,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Methanex by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,018,835 shares of the specialty chemicals company's stock valued at $90,949,000 after acquiring an additional 32,244 shares in the last quarter. Citigroup Inc. grew its stake in shares of Methanex by 40.2% in the third quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company's stock worth $183,000 after acquiring an additional 1,158 shares during the last quarter. Ausbil Investment Management Ltd purchased a new stake in shares of Methanex in the fourth quarter worth $195,000. American Century Companies Inc. grew its stake in shares of Methanex by 11.2% in the third quarter. American Century Companies Inc. now owns 317,575 shares of the specialty chemicals company's stock worth $14,312,000 after acquiring an additional 31,950 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Methanex by 356.3% during the 3rd quarter. Quantbot Technologies LP now owns 17,583 shares of the specialty chemicals company's stock valued at $792,000 after purchasing an additional 13,730 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on MEOH. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $45.00 price target on shares of Methanex in a research report on Wednesday, April 3rd. Barclays upped their price target on shares of Methanex from $53.00 to $56.00 and gave the company an "overweight" rating in a research report on Monday, February 12th. Raymond James reduced their price target on shares of Methanex from $67.00 to $62.00 and set an "outperform" rating for the company in a research report on Wednesday, February 21st. UBS Group raised shares of Methanex from a "neutral" rating to a "buy" rating and upped their price target for the company from $51.00 to $60.00 in a research report on Thursday, February 8th. Finally, CIBC boosted their price objective on Methanex from $46.00 to $48.00 and gave the company a "neutral" rating in a research note on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Methanex currently has an average rating of "Moderate Buy" and an average target price of $53.50.
Get Our Latest Stock Analysis on MEOH
Methanex Stock Performance
Shares of NASDAQ:MEOH traded up $0.17 during mid-day trading on Thursday, reaching $47.06. 131,913 shares of the company traded hands, compared to its average volume of 293,990. The company's 50 day moving average price is $45.31 and its 200-day moving average price is $44.52. The firm has a market cap of $3.17 billion, a PE ratio of 19.12 and a beta of 1.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.14 and a quick ratio of 0.81. Methanex Co. has a 52 week low of $38.18 and a 52 week high of $51.42.
Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.24. The business had revenue of $922.00 million during the quarter, compared to the consensus estimate of $901.21 million. Methanex had a return on equity of 6.71% and a net margin of 4.67%. On average, equities analysts expect that Methanex Co. will post 2.15 EPS for the current fiscal year.
Methanex Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.185 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.74 annualized dividend and a dividend yield of 1.57%. Methanex's dividend payout ratio is currently 30.08%.
About Methanex
(
Free Report)
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.
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