Methanex Co. (NASDAQ:MEOH) Stock Holdings Trimmed by Boston Partners

Boston Partners lowered its holdings in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,320 shares of the specialty chemicals company’s stock after selling 14,318 shares during the period. Boston Partners owned approximately 0.58% of Methanex worth $18,231,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms have recently commented on MEOH. Piper Sandler reissued a “neutral” rating and issued a $50.00 price objective on shares of Methanex in a research note on Thursday, March 7th. UBS Group lifted their target price on Methanex from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada lifted their target price on Methanex from $45.00 to $50.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Scotiabank lifted their target price on Methanex from $54.00 to $58.00 and gave the stock a “sector outperform” rating in a report on Monday, April 29th. Finally, Barclays lifted their target price on Methanex from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.88.

Methanex Stock Performance

Shares of MEOH stock opened at $52.70 on Thursday. Methanex Co. has a 1-year low of $38.18 and a 1-year high of $53.55. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 22.33 and a beta of 1.47. The stock’s fifty day simple moving average is $46.90 and its 200-day simple moving average is $45.45.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.35. Methanex had a return on equity of 5.38% and a net margin of 4.63%. The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $908.50 million. On average, sell-side analysts predict that Methanex Co. will post 2.34 earnings per share for the current fiscal year.

Methanex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.74 dividend on an annualized basis and a yield of 1.40%. Methanex’s payout ratio is 31.36%.

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.