Methanex Co. (NASDAQ:MEOH) Stock Position Lifted by Cerity Partners LLC

Cerity Partners LLC grew its stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,071 shares of the specialty chemicals company’s stock after acquiring an additional 492 shares during the period. Cerity Partners LLC’s holdings in Methanex were worth $666,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. raised its stake in shares of Methanex by 40.2% during the 3rd quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company’s stock worth $183,000 after purchasing an additional 1,158 shares in the last quarter. Ausbil Investment Management Ltd acquired a new stake in Methanex in the fourth quarter valued at approximately $195,000. Advisor Partners II LLC bought a new stake in Methanex in the third quarter worth approximately $209,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Methanex during the 3rd quarter worth $216,000. Finally, Numerai GP LLC bought a new position in shares of Methanex during the 3rd quarter valued at $223,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on MEOH. Barclays increased their target price on shares of Methanex from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price objective on shares of Methanex in a research note on Wednesday, April 3rd. TheStreet raised Methanex from a “c” rating to a “b-” rating in a research report on Thursday, January 11th. Raymond James dropped their price target on shares of Methanex from $67.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Methanex in a report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Methanex has an average rating of “Moderate Buy” and an average price target of $53.50.

Methanex Stock Up 0.6 %

MEOH opened at $47.95 on Wednesday. Methanex Co. has a 1-year low of $38.18 and a 1-year high of $51.42. The business has a 50 day moving average of $45.46 and a 200-day moving average of $44.67. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.49 and a beta of 1.51. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.84.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.24. Methanex had a net margin of 4.67% and a return on equity of 6.71%. The firm had revenue of $922.00 million during the quarter, compared to the consensus estimate of $901.21 million. As a group, sell-side analysts anticipate that Methanex Co. will post 2.35 earnings per share for the current year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.185 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.74 annualized dividend and a yield of 1.54%. Methanex’s dividend payout ratio is 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.