Methanex Co. (NASDAQ:MEOH) Shares Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lifted its position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 81.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,773 shares of the specialty chemicals company's stock after purchasing an additional 84,462 shares during the period. Polar Asset Management Partners Inc. owned about 0.28% of Methanex worth $9,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MEOH. Barclays PLC raised its position in Methanex by 64.9% during the third quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company's stock worth $845,000 after acquiring an additional 8,047 shares during the period. Legacy Wealth Asset Management LLC acquired a new stake in shares of Methanex in the fourth quarter valued at about $220,000. Blue Trust Inc. raised its position in shares of Methanex by 15.0% in the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock valued at $142,000 after buying an additional 371 shares during the last quarter. Ausbil Investment Management Ltd acquired a new stake in shares of Methanex in the fourth quarter valued at about $386,000. Finally, Triasima Portfolio Management inc. acquired a new stake in shares of Methanex in the fourth quarter valued at about $1,540,000. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MEOH has been the subject of a number of recent research reports. Scotiabank upgraded shares of Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 target price for the company in a research report on Monday, May 5th. Piper Sandler set a $48.00 price objective on shares of Methanex and gave the company an "overweight" rating in a report on Sunday. UBS Group dropped their price objective on shares of Methanex from $51.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Barclays lowered their target price on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Finally, CIBC lowered their target price on shares of Methanex from $47.00 to $44.00 and set an "outperformer" rating for the company in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $48.25.

Methanex Stock Down 1.6%

Shares of MEOH traded down $0.53 during mid-day trading on Wednesday, hitting $33.19. 118,473 shares of the company's stock were exchanged, compared to its average volume of 389,902. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 14.37 and a beta of 0.93. Methanex Co. has a fifty-two week low of $25.46 and a fifty-two week high of $54.50. 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's 50-day moving average is $32.14 and its 200-day moving average is $41.44.

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

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, June 16th. This represents a $0.74 annualized dividend and a dividend yield of 2.23%. Methanex's dividend payout ratio is presently 24.83%.

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.