Methanex (NASDAQ:MEOH) Stock Price Down 11.5% – What’s Next?

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) were down 11.5% during mid-day trading on Monday . The company traded as low as $37.49 and last traded at $37.41. Approximately 162,497 shares changed hands during trading, a decline of 50% from the average daily volume of 323,373 shares. The stock had previously closed at $42.25.

Analyst Ratings Changes

Several equities analysts have issued reports on MEOH shares. Raymond James upped their price target on shares of Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, January 14th. Scotiabank cut shares of Methanex from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $66.00 to $53.00 in a research report on Monday. Barclays upped their price target on shares of Methanex from $54.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. UBS Group upped their price objective on shares of Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Piper Sandler upped their price objective on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.63.

Methanex Stock Performance

The firm has a market capitalization of $2.46 billion, a P/E ratio of 15.81 and a beta of 1.39. The company’s 50 day moving average is $47.44 and its 200-day moving average is $44.82. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01.

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

Methanex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Monday, March 17th. Methanex’s dividend payout ratio (DPR) is 32.03%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Polar Asset Management Partners Inc. lifted its stake in shares of Methanex by 81.0% in the fourth quarter. Polar Asset Management Partners Inc. now owns 188,773 shares of the specialty chemicals company’s stock valued at $9,427,000 after buying an additional 84,462 shares in the last quarter. Value Partners Investments Inc. lifted its stake in shares of Methanex by 7.3% in the fourth quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company’s stock valued at $302,000 after buying an additional 411 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Methanex by 26.6% in the fourth quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company’s stock valued at $53,770,000 after buying an additional 226,349 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Methanex by 98.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 52,370 shares of the specialty chemicals company’s stock valued at $2,616,000 after buying an additional 25,973 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Methanex by 1.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,134 shares of the specialty chemicals company’s stock valued at $3,552,000 after purchasing an additional 965 shares during the last quarter. 73.49% of the stock is owned by institutional investors.

About Methanex

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.