Methanex Co. (TSE:MX) Director Buys C$1,460,640.00 in Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) Director John Floren bought 32,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was acquired at an average cost of C$45.65 per share, with a total value of C$1,460,640.00. Following the transaction, the director now owns 111,733 shares of the company’s stock, valued at C$5,100,052.79.

Shares of MX traded up C$1.36 during midday trading on Friday, reaching C$47.09. 237,256 shares of the stock were exchanged, compared to its average volume of 302,940. The company has a market cap of $3.54 billion and a price-to-earnings ratio of 16.77. The company has a quick ratio of 1.28, a current ratio of 1.64 and a debt-to-equity ratio of 167.16. Methanex Co. has a 12-month low of C$40.11 and a 12-month high of C$83.99. The firm has a 50 day simple moving average of C$50.22 and a 200-day simple moving average of C$51.33.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.474 dividend. This is a boost from Methanex’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.90 annualized dividend and a dividend yield of 4.03%. Methanex’s payout ratio is presently 48.56%.

Separately, Tudor Pickering & Holt reiterated a “hold” rating on shares of Methanex in a report on Wednesday, October 9th.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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