Methanex (NASDAQ:MEOH) Reaches New 1-Year Low – Time to Sell?

Methanex Co. (NASDAQ:MEOH) (TSE:MX) reached a new 52-week low during trading on Thursday . The stock traded as low as $35.11 and last traded at $35.85, with a volume of 113358 shares. The stock had previously closed at $35.96.

Analyst Ratings Changes

Several research analysts have recently issued reports on MEOH shares. Raymond James upped their price objective on Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a research note on Friday, January 31st. UBS Group upped their target price on shares of Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a report on Friday, February 7th. CIBC restated an “outperform” rating on shares of Methanex in a research note on Monday, February 3rd. Finally, Scotiabank downgraded Methanex from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $66.00 to $53.00 in a report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Methanex currently has an average rating of “Moderate Buy” and an average price target of $60.63.

Methanex Stock Down 1.9 %

The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $2.38 billion, a PE ratio of 15.29 and a beta of 1.38. The firm’s fifty day moving average is $44.24 and its 200-day moving average is $44.12.

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

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Monday, March 17th. Methanex’s dividend payout ratio is currently 32.03%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Methanex by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company’s stock worth $241,549,000 after buying an additional 62,467 shares in the last quarter. FMR LLC lifted its holdings in shares of Methanex by 3.0% in 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 in the last quarter. Vanguard Group Inc. grew its position in shares of Methanex by 1.8% in 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. Mackenzie Financial Corp increased its stake in shares of Methanex by 26.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company’s stock worth $53,770,000 after purchasing an additional 226,349 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Methanex by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,047,978 shares of the specialty chemicals company’s stock worth $52,334,000 after purchasing an additional 50,075 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

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.