AGF Management Ltd. Makes New $5.21 Million Investment in Methanex Co. (NASDAQ:MEOH)

AGF Management Ltd. purchased a new stake in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 110,114 shares of the specialty chemicals company's stock, valued at approximately $5,209,000. AGF Management Ltd. owned 0.16% of Methanex as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of MEOH. Mackenzie Financial Corp lifted its stake in shares of Methanex by 5.2% in the fourth quarter. Mackenzie Financial Corp now owns 777,968 shares of the specialty chemicals company's stock worth $36,819,000 after acquiring an additional 38,119 shares during the period. Cerity Partners LLC lifted its position in shares of Methanex by 3.6% in the 4th quarter. Cerity Partners LLC now owns 14,071 shares of the specialty chemicals company's stock worth $666,000 after purchasing an additional 492 shares during the period. Westbourne Investment Advisors Inc. boosted its stake in shares of Methanex by 0.4% in the 4th quarter. Westbourne Investment Advisors Inc. now owns 104,216 shares of the specialty chemicals company's stock valued at $4,936,000 after purchasing an additional 465 shares during the last quarter. Ausbil Investment Management Ltd acquired a new stake in shares of Methanex during the fourth quarter worth $195,000. Finally, Vanguard Group Inc. raised its stake in Methanex by 1.6% during the third quarter. Vanguard Group Inc. now owns 2,018,835 shares of the specialty chemicals company's stock worth $90,949,000 after buying an additional 32,244 shares during the last quarter. Institutional investors own 73.49% of the company's stock.

Methanex Stock Up 4.7 %

Shares of NASDAQ:MEOH traded up $2.35 during midday trading on Monday, hitting $52.83. 635,467 shares of the company's stock were exchanged, compared to its average volume of 304,786. 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 $53.55. The company has a market cap of $3.56 billion, a PE ratio of 22.42 and a beta of 1.47. The stock has a 50 day moving average price of $46.49 and a 200-day moving average price of $45.28.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, June 14th. Methanex's dividend payout ratio is currently 31.36%.

Analyst Ratings Changes

A number of analysts have weighed in on MEOH shares. UBS Group increased their price target on Methanex from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, April 25th. Barclays increased their price target on Methanex from $53.00 to $56.00 and gave the stock an "overweight" rating in a report on Monday, February 12th. Royal Bank of Canada lifted their price objective on shares of Methanex from $45.00 to $50.00 and gave the company a "sector perform" rating in a research note on Friday, April 26th. Scotiabank increased their target price on shares of Methanex from $54.00 to $58.00 and gave the stock a "sector outperform" rating in a research note on Monday, April 29th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $50.00 price target on shares of Methanex in a research note on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.