Schonfeld Strategic Advisors LLC Takes Position in Methanex Co. (NASDAQ:MEOH)

Schonfeld Strategic Advisors LLC purchased a new position in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 118,031 shares of the specialty chemicals company's stock, valued at approximately $5,894,000. Schonfeld Strategic Advisors LLC owned 0.18% of Methanex as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MEOH. Wilmington Savings Fund Society FSB acquired a new stake in shares of Methanex in the third quarter valued at $40,000. Parkside Financial Bank & Trust lifted its stake in Methanex by 39.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock worth $101,000 after purchasing an additional 573 shares during the last quarter. Blue Trust Inc. increased its stake in 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 purchasing an additional 371 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Methanex during the 4th quarter worth approximately $166,000. Finally, Signaturefd LLC raised its stake in Methanex by 15.0% during the 4th quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company's stock worth $172,000 after acquiring an additional 450 shares in the last quarter. 73.49% of the stock is currently owned by hedge funds and other institutional investors.

Methanex Price Performance

Shares of NASDAQ MEOH traded up $0.19 during midday trading on Wednesday, reaching $32.53. The company's stock had a trading volume of 88,186 shares, compared to its average volume of 383,061. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 14.10 and a beta of 0.93. The company has a 50 day moving average price of $33.40 and a 200 day moving average price of $41.88. Methanex Co. has a one year low of $25.46 and a one year high of $56.43.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly earnings data 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. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The business had revenue of $857.90 million during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $0.65 earnings per share. Methanex's quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts expect that Methanex Co. will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Monday, June 16th. Methanex's dividend payout ratio is 24.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MEOH shares. Piper Sandler downgraded Methanex from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $71.00 to $36.00 in a report on Monday, April 7th. Barclays reduced their price target on Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Raymond James cut their target price on shares of Methanex from $62.00 to $40.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. CIBC dropped their price objective on shares of Methanex from $47.00 to $44.00 and set an "outperformer" rating on the stock in a research note on Monday. Finally, Scotiabank upgraded Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price target on the stock in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Methanex currently has an average rating of "Moderate Buy" and a consensus target price of $46.88.

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.