Methanex Co. (NASDAQ:MEOH) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its holdings in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 19.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,557 shares of the specialty chemicals company's stock after selling 24,346 shares during the quarter. Russell Investments Group Ltd. owned about 0.15% of Methanex worth $4,923,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Shell Asset Management Co. grew its holdings in Methanex by 6.2% in the third quarter. Shell Asset Management Co. now owns 5,129 shares of the specialty chemicals company's stock worth $232,000 after purchasing an additional 300 shares during the period. Westbourne Investment Advisors Inc. grew its holdings in Methanex by 0.4% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 104,216 shares of the specialty chemicals company's stock worth $4,936,000 after purchasing an additional 465 shares during the period. Toronto Dominion Bank lifted its stake in shares of Methanex by 0.8% in the third quarter. Toronto Dominion Bank now owns 60,504 shares of the specialty chemicals company's stock worth $2,726,000 after buying an additional 487 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Methanex by 3.6% in the fourth quarter. Cerity Partners LLC now owns 14,071 shares of the specialty chemicals company's stock worth $666,000 after buying an additional 492 shares in the last quarter. Finally, Exencial Wealth Advisors LLC lifted its stake in shares of Methanex by 7.1% in the third quarter. Exencial Wealth Advisors LLC now owns 16,708 shares of the specialty chemicals company's stock worth $753,000 after buying an additional 1,104 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company's stock.

Methanex Stock Performance

Methanex stock traded up $0.22 during midday trading on Friday, reaching $50.48. 222,715 shares of the company traded hands, compared to its average volume of 322,205. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 0.85. Methanex Co. has a 12 month low of $38.18 and a 12 month high of $51.42. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 21.39 and a beta of 1.47. The business has a 50 day moving average of $46.49 and a two-hundred day moving average of $45.20.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.185 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.74 annualized dividend and a yield of 1.47%. Methanex's payout ratio is presently 31.36%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MEOH shares. Raymond James dropped their target price on shares of Methanex from $67.00 to $62.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 21st. Piper Sandler reiterated a "neutral" rating and issued a $50.00 target price on shares of Methanex in a research note on Thursday, March 7th. Barclays upped their target price on shares of Methanex from $53.00 to $56.00 and gave the stock an "overweight" rating in a research note on Monday, February 12th. Royal Bank of Canada upped their target price on shares of Methanex from $45.00 to $50.00 and gave the stock a "sector perform" rating in a research note on Friday, April 26th. Finally, UBS Group upped their target price on shares of Methanex from $59.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.88.

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.