FIL Ltd Has $280.83 Million Stock Position in Methanex Co. (NASDAQ:MEOH)

FIL Ltd trimmed its holdings in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 21.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,619,938 shares of the specialty chemicals company’s stock after selling 1,535,645 shares during the period. FIL Ltd owned about 0.08% of Methanex worth $280,831,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Methanex by 1.3% during the 4th quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company’s stock valued at $241,549,000 after acquiring an additional 62,467 shares during the last quarter. FMR LLC grew its holdings in Methanex by 3.0% during 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 during the last quarter. Vanguard Group Inc. grew its holdings in 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 last quarter. Boston Partners raised its position in shares of Methanex by 36.0% in the fourth quarter. Boston Partners now owns 989,534 shares of the specialty chemicals company’s stock valued at $49,393,000 after purchasing an additional 262,087 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Methanex by 7.0% in the fourth quarter. Bank of Montreal Can now owns 957,677 shares of the specialty chemicals company’s stock worth $47,794,000 after buying an additional 62,693 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James lifted their target price on shares of Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Scotiabank cut Methanex from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $66.00 to $53.00 in a research report on Monday, March 10th. Barclays lowered their target price on Methanex from $57.00 to $41.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. UBS Group cut their price target on Methanex from $66.00 to $53.00 and set a “buy” rating for the company in a report on Monday. Finally, Piper Sandler downgraded shares of Methanex from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $71.00 to $36.00 in a research note on Monday. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.63.

Methanex Stock Down 4.6 %

MEOH opened at $27.39 on Tuesday. The company has a market capitalization of $1.85 billion, a P/E ratio of 11.86 and a beta of 1.06. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00. The firm’s fifty day moving average price is $42.02 and its two-hundred day moving average price is $43.93. Methanex Co. has a fifty-two week low of $26.17 and a fifty-two week high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. On average, analysts anticipate that Methanex Co. will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.185 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 2.70%. Methanex’s dividend payout ratio is currently 32.03%.

Methanex 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.