Methanex Co. (NASDAQ:MEOH) is M&G Investment Management Ltd.'s 4th Largest Position

M&G Investment Management Ltd. cut its position in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,112,435 shares of the specialty chemicals company's stock after selling 117,800 shares during the period. Methanex comprises 3.7% of M&G Investment Management Ltd.'s portfolio, making the stock its 4th biggest position. M&G Investment Management Ltd. owned 19.46% of Methanex worth $616,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Methanex by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,018,835 shares of the specialty chemicals company's stock worth $90,949,000 after purchasing an additional 32,244 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Methanex by 1.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,050,158 shares of the specialty chemicals company's stock valued at $47,323,000 after buying an additional 10,824 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Methanex by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 908,008 shares of the specialty chemicals company's stock worth $43,004,000 after buying an additional 15,190 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Methanex by 5.2% during the 4th 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 in the last quarter. Finally, Becker Capital Management Inc. lifted its position in Methanex by 0.5% during the third quarter. Becker Capital Management Inc. now owns 542,370 shares of the specialty chemicals company's stock valued at $24,468,000 after acquiring an additional 2,868 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MEOH shares. UBS Group lifted their price target on shares of 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 company an "overweight" rating in a research note on Monday, February 12th. Scotiabank boosted their price target on Methanex from $54.00 to $58.00 and gave the stock a "sector outperform" rating in a research note on Monday, April 29th. Piper Sandler restated a "neutral" rating and set a $50.00 price objective on shares of Methanex in a report on Thursday, March 7th. Finally, Royal Bank of Canada lifted 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. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.88.

Methanex Stock Performance

Shares of NASDAQ:MEOH traded down $0.57 during midday trading on Wednesday, reaching $52.70. The company's stock had a trading volume of 321,839 shares, compared to its average volume of 304,716. The firm has a market capitalization of $3.55 billion, a PE ratio of 22.33 and a beta of 1.47. The stock has a fifty day moving average of $46.90 and a 200 day moving average of $45.45. Methanex Co. has a twelve month low of $38.18 and a twelve month high of $53.55. The company has a quick ratio of 0.85, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Methanex Announces Dividend

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

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.