CenterBook Partners LP raised its stake in shares of Methanex Corporation (NASDAQ:MEOH – Free Report) (TSE:MX) by 175.3% during the fourth quarter, Holdings Channel reports. The firm owned 45,568 shares of the specialty chemicals company’s stock after buying an additional 29,016 shares during the period. CenterBook Partners LP’s holdings in Methanex were worth $1,810,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in MEOH. Amundi boosted its holdings in Methanex by 3.9% during the first quarter. Amundi now owns 22,791 shares of the specialty chemicals company’s stock valued at $800,000 after purchasing an additional 848 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Methanex during the second quarter valued at approximately $419,000. Invesco Ltd. boosted its holdings in Methanex by 15.7% during the second quarter. Invesco Ltd. now owns 249,231 shares of the specialty chemicals company’s stock valued at $8,250,000 after purchasing an additional 33,827 shares in the last quarter. AXA S.A. acquired a new stake in Methanex during the second quarter valued at approximately $166,000. Finally, Qube Research & Technologies Ltd boosted its holdings in Methanex by 327.0% during the second quarter. Qube Research & Technologies Ltd now owns 47,284 shares of the specialty chemicals company’s stock valued at $1,565,000 after purchasing an additional 36,211 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.
Methanex Stock Performance
MEOH stock opened at $57.66 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.96 and a quick ratio of 1.26. The company has a 50 day moving average price of $60.51 and a 200 day moving average price of $51.05. Methanex Corporation has a fifty-two week low of $32.00 and a fifty-two week high of $66.75. The stock has a market capitalization of $4.46 billion, a PE ratio of -117.67 and a beta of 0.56.
Methanex Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, June 16th. Methanex’s payout ratio is -151.02%.
Analyst Ratings Changes
A number of research firms have weighed in on MEOH. Scotiabank lifted their price objective on Methanex from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. BMO Capital Markets lifted their target price on shares of Methanex from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, March 18th. Raymond James Financial lifted their target price on shares of Methanex from $52.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Royal Bank Of Canada lifted their target price on shares of Methanex from $65.00 to $70.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Methanex currently has a consensus rating of “Moderate Buy” and an average price target of $66.78.
Get Our Latest Stock Report on Methanex
Methanex Profile
Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.
The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).
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