9,793 Shares in Methanex Co. (NASDAQ:MEOH) Bought by Orion Resource Partners LP

Orion Resource Partners LP acquired a new stake in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,793 shares of the specialty chemicals company's stock, valued at approximately $489,000. Methanex makes up about 0.1% of Orion Resource Partners LP's holdings, making the stock its 8th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of Methanex by 1.3% in the fourth quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company's stock worth $241,549,000 after acquiring an additional 62,467 shares during the period. FMR LLC increased its stake in Methanex by 3.0% in the fourth quarter. FMR LLC now owns 3,330,889 shares of the specialty chemicals company's stock valued at $166,384,000 after purchasing an additional 95,950 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Methanex by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company's stock valued at $105,779,000 after purchasing an additional 37,658 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Methanex by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,047,978 shares of the specialty chemicals company's stock worth $52,334,000 after purchasing an additional 50,075 shares in the last quarter. Finally, Boston Partners increased its position in Methanex by 36.0% in the 4th quarter. Boston Partners now owns 989,534 shares of the specialty chemicals company's stock valued at $49,393,000 after buying an additional 262,087 shares in the last quarter. Institutional investors own 73.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MEOH shares. CIBC decreased their target price on shares of Methanex from $47.00 to $44.00 and set an "outperformer" rating for the company in a research report on Monday. Raymond James decreased their price objective on Methanex from $62.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. StockNews.com lowered Methanex from a "buy" rating to a "hold" rating in a report on Thursday. Royal Bank of Canada cut their price objective on shares of Methanex from $55.00 to $50.00 and set a "sector perform" rating on the stock in a report on Friday. Finally, Piper Sandler cut shares of Methanex from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $71.00 to $36.00 in a research report on Monday, April 7th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Methanex currently has a consensus rating of "Moderate Buy" and an average target price of $46.88.

Methanex Stock Performance

NASDAQ MEOH traded down $1.14 during trading on Monday, hitting $31.84. 694,922 shares of the company's stock traded hands, compared to its average volume of 382,286. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 13.78 and a beta of 1.06. Methanex Co. has a 12-month low of $25.46 and a 12-month high of $56.43. The business has a 50 day moving average of $33.87 and a 200-day moving average of $42.01.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.25 by $0.05. The company had revenue of $857.90 million during the quarter, compared to the consensus estimate of $1.06 billion. Methanex had a net margin of 4.41% and a return on equity of 10.97%. Methanex's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. As a group, equities research analysts anticipate that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.185 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.74 annualized dividend and a yield of 2.32%. Methanex's dividend payout ratio is currently 32.03%.

About Methanex

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.