Fmr LLC Purchases 95,950 Shares of Methanex Co. (NASDAQ:MEOH)

Fmr LLC lifted its holdings in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 3.0% in the 4th quarter, Holdings Channel reports. The firm owned 3,330,889 shares of the specialty chemicals company’s stock after acquiring an additional 95,950 shares during the period. Fmr LLC’s holdings in Methanex were worth $166,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. US Bancorp DE boosted its holdings in Methanex by 35.7% during the 4th quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company’s stock valued at $941,000 after acquiring an additional 4,952 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Methanex by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock valued at $4,340,000 after buying an additional 1,203 shares in the last quarter. Vanguard Group Inc. grew its holdings in Methanex by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company’s stock worth $105,779,000 after purchasing an additional 37,658 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Methanex by 17.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company’s stock worth $415,000 after buying an additional 1,245 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Methanex by 64.9% during the third quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company’s stock valued at $845,000 after acquiring an additional 8,047 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MEOH shares. UBS Group reduced their price target on shares of Methanex from $66.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, April 7th. CIBC lowered their price objective on shares of Methanex from $63.00 to $55.00 and set an “outperformer” rating on the stock in a research note on Thursday, April 3rd. Piper Sandler cut Methanex from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $71.00 to $36.00 in a report on Monday, April 7th. Raymond James lifted their price target on shares of Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Finally, Barclays lowered their price objective on Methanex from $57.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Methanex has a consensus rating of “Moderate Buy” and a consensus price target of $51.63.

Methanex Price Performance

Shares of MEOH stock opened at $26.64 on Friday. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 11.53 and a beta of 1.06. 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 simple moving average is $39.15 and its 200-day simple moving average is $43.35. Methanex Co. has a fifty-two week low of $25.46 and a fifty-two week high of $56.43.

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

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.185 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a yield of 2.78%. Methanex’s payout ratio is 32.03%.

Methanex Company 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.