Recent Analysts’ Ratings Changes for Methanex (MEOH)

Several brokerages have updated their recommendations and price targets on shares of Methanex (NASDAQ: MEOH) in the last few weeks:

• 11/19/2024 – Methanex had its price target raised by analysts at Piper Sandler from $68.00 to $71.00. They now have an “overweight” rating on the stock.
• 11/11/2024 – Methanex had its price target raised by analysts at Barclays PLC from $44.00 to $46.00. They now have an “equal weight” rating on the stock.
• 11/8/2024 – Methanex was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/7/2024 – Methanex had its price target lowered by analysts at UBS Group AG from $54.00 to $53.00. They now have a “buy” rating on the stock.

Methanex Price Performance

MEOH stock opened at $44.42 on Thursday. The stock’s 50 day moving average price is $41.02 and its 200 day moving average price is $45.70. The firm has a market cap of $2.99 billion, a P/E ratio of 20.76 and a beta of 1.36. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34. Methanex Co. has a 1 year low of $36.13 and a 1 year high of $56.43.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Tuesday, December 17th. Methanex’s payout ratio is currently 34.58%.

Institutional Trading of Methanex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its stake in shares of Methanex by 19.6% during the 2nd quarter. Toronto Dominion Bank now owns 33,229 shares of the specialty chemicals company’s stock worth $1,604,000 after purchasing an additional 5,451 shares during the last quarter. Millennium Management LLC boosted its position in Methanex by 13.0% during the second quarter. Millennium Management LLC now owns 508,730 shares of the specialty chemicals company’s stock worth $24,551,000 after acquiring an additional 58,719 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Methanex in the 2nd quarter worth approximately $201,000. Truist Financial Corp raised its holdings in Methanex by 5.0% in the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock valued at $300,000 after acquiring an additional 294 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Methanex by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,262 shares of the specialty chemicals company’s stock worth $45,570,000 after purchasing an additional 30,887 shares during the period. Hedge funds and other institutional investors own 73.49% of the company’s stock.

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.