Steward Partners Investment Advisory LLC Increases Stock Position in Methanex Co. (NASDAQ:MEOH)

Steward Partners Investment Advisory LLC lifted its holdings in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 17.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,316 shares of the specialty chemicals company’s stock after acquiring an additional 1,245 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Methanex were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MEOH. MQS Management LLC acquired a new position in Methanex in the 3rd quarter worth $401,000. PCJ Investment Counsel Ltd. acquired a new stake in shares of Methanex in the 3rd quarter worth approximately $471,000. Charles Schwab Investment Management Inc. lifted its stake in Methanex by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,102 shares of the specialty chemicals company’s stock valued at $8,483,000 after purchasing an additional 8,850 shares during the last quarter. Cerity Partners LLC lifted its stake in Methanex by 19.1% during the third quarter. Cerity Partners LLC now owns 17,844 shares of the specialty chemicals company’s stock valued at $738,000 after purchasing an additional 2,863 shares during the last quarter. Finally, Bank of Hawaii lifted its position in shares of Methanex by 4.2% in the 3rd quarter. Bank of Hawaii now owns 11,470 shares of the specialty chemicals company’s stock valued at $474,000 after acquiring an additional 465 shares in the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MEOH. Scotiabank lowered shares of Methanex from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $66.00 to $53.00 in a research note on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a report on Friday, January 31st. UBS Group boosted their price target on shares of Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Raymond James boosted their target price on shares of Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. Finally, Piper Sandler boosted their price target on shares of Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.63.

Methanex Stock Performance

Shares of MEOH opened at $36.78 on Friday. Methanex Co. has a 12 month low of $35.67 and a 12 month high of $56.43. The firm has a fifty day simple moving average of $46.92 and a 200 day simple moving average of $44.71. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 15.92 and a beta of 1.39. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly 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%. Research analysts forecast that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Monday, March 17th. Methanex’s dividend payout ratio is 32.03%.

Methanex Company 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.