20,000 Shares in Methanex Corporation $MEOH Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new position in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) in the first quarter, HoldingsChannel reports. The institutional investor purchased 20,000 shares of the specialty chemicals company’s stock, valued at approximately $702,000.

A number of other institutional investors have also recently added to or reduced their stakes in MEOH. SVB Wealth LLC purchased a new stake in Methanex during the 1st quarter worth $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in Methanex during the 1st quarter worth $55,000. Headlands Technologies LLC purchased a new stake in Methanex during the 1st quarter worth $82,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Methanex during the 4th quarter worth $106,000. Finally, Deutsche Bank AG boosted its position in Methanex by 19.9% in the 1st quarter. Deutsche Bank AG now owns 3,007 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 500 shares during the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Stock Performance

Shares of MEOH stock opened at $38.72 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.43 and a current ratio of 2.13. Methanex Corporation has a one year low of $25.46 and a one year high of $54.49. The company’s 50-day simple moving average is $34.42 and its 200-day simple moving average is $34.19. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 11.42 and a beta of 0.87.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.42 by $0.55. Methanex had a net margin of 7.02% and a return on equity of 12.61%. The business had revenue of $808.46 million for the quarter, compared to analysts’ expectations of $835.04 million. During the same quarter last year, the company posted $0.62 earnings per share. The company’s quarterly revenue was down 13.4% compared to the same quarter last year. Equities analysts anticipate that Methanex Corporation will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.74 annualized dividend and a dividend yield of 1.9%. Methanex’s dividend payout ratio (DPR) is presently 21.83%.

Analysts Set New Price Targets

MEOH has been the subject of a number of analyst reports. UBS Group decreased their price objective on shares of Methanex from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, July 31st. Piper Sandler set a $48.00 price objective on shares of Methanex and gave the company an “overweight” rating in a research report on Sunday, May 18th. Scotiabank set a $50.00 price objective on shares of Methanex and gave the company a “sector outperform” rating in a research report on Tuesday, August 5th. CIBC upped their price objective on shares of Methanex from $42.00 to $44.00 and gave the company an “outperformer” rating in a research report on Friday, August 1st. Finally, Raymond James Financial set a $45.00 price objective on shares of Methanex and gave the company an “outperform” rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.88.

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.