Barclays PLC Purchases 8,047 Shares of Methanex Co. (NASDAQ:MEOH)

Barclays PLC lifted its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 64.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,447 shares of the specialty chemicals company’s stock after buying an additional 8,047 shares during the period. Barclays PLC’s holdings in Methanex were worth $845,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Methanex by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock valued at $4,340,000 after buying an additional 1,203 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Methanex in the 3rd quarter valued at $1,092,000. Point72 Asset Management L.P. increased its position in shares of Methanex by 1,495.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company’s stock valued at $5,739,000 after buying an additional 130,127 shares in the last quarter. Toronto Dominion Bank increased its holdings in 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 in the last quarter. Finally, Millennium Management LLC increased its holdings in Methanex by 13.0% during the 2nd quarter. Millennium Management LLC now owns 508,730 shares of the specialty chemicals company’s stock worth $24,551,000 after purchasing an additional 58,719 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 target price on shares of Methanex in a report on Monday, January 6th. Cibc World Mkts upgraded Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. CIBC reiterated an “outperformer” rating and set a $59.00 target price (up previously from $48.00) on shares of Methanex in a report on Tuesday, December 10th. UBS Group lowered their target price on Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Methanex Trading Up 1.5 %

Shares of NASDAQ:MEOH opened at $50.19 on Thursday. Methanex Co. has a 52-week low of $36.13 and a 52-week high of $56.43. The company has a market capitalization of $3.38 billion, a P/E ratio of 23.45 and a beta of 1.37. The company has a 50-day simple moving average of $46.57 and a 200 day simple moving average of $44.79. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a $0.185 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $0.74 annualized dividend and a yield of 1.47%. Methanex’s dividend payout ratio (DPR) is currently 34.58%.

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.