Mackenzie Financial Corp Increases Stock Position in Methanex Co. (NASDAQ:MEOH)

Mackenzie Financial Corp boosted its stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 777,968 shares of the specialty chemicals company’s stock after buying an additional 38,119 shares during the quarter. Mackenzie Financial Corp owned 1.15% of Methanex worth $36,819,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its stake in shares of Methanex by 37.2% in the first quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 302 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Methanex by 1,158.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,271 shares of the specialty chemicals company’s stock valued at $53,000 after purchasing an additional 1,170 shares during the period. State of Wyoming purchased a new position in shares of Methanex in the fourth quarter valued at approximately $92,000. Deutsche Bank AG acquired a new stake in Methanex in the fourth quarter valued at approximately $101,000. Finally, Citigroup Inc. raised its holdings in Methanex by 43.3% in the second quarter. Citigroup Inc. now owns 2,884 shares of the specialty chemicals company’s stock valued at $119,000 after acquiring an additional 871 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Analyst Ratings Changes

MEOH has been the topic of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Methanex in a report on Thursday, March 7th. Raymond James reduced their target price on shares of Methanex from $67.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Barclays raised their target price on shares of Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price objective on shares of Methanex in a report on Wednesday, April 3rd. Finally, CIBC raised their price objective on shares of Methanex from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Methanex presently has an average rating of “Moderate Buy” and a consensus price target of $53.50.

Methanex Stock Performance

NASDAQ:MEOH opened at $46.89 on Thursday. The firm’s fifty day moving average price is $45.31 and its 200 day moving average price is $44.52. Methanex Co. has a 1-year low of $38.18 and a 1-year high of $51.42. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.14 and a quick ratio of 0.81. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 19.06 and a beta of 1.50.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.28 by $0.24. The company had revenue of $922.00 million for the quarter, compared to analyst estimates of $901.21 million. Methanex had a net margin of 4.67% and a return on equity of 6.71%. On average, sell-side analysts expect that Methanex Co. will post 2.15 EPS for the current year.

Methanex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.185 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.74 annualized dividend and a dividend yield of 1.58%. Methanex’s payout ratio is currently 30.08%.

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.