TD Waterhouse Canada Inc. Sells 1,372 Shares of Methanex Co. (NASDAQ:MEOH)

TD Waterhouse Canada Inc. lessened its holdings in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 25.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,107 shares of the specialty chemicals company’s stock after selling 1,372 shares during the period. TD Waterhouse Canada Inc.’s holdings in Methanex were worth $201,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Methanex by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,047,978 shares of the specialty chemicals company’s stock worth $52,334,000 after buying an additional 50,075 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Methanex during the fourth quarter valued at $632,000. Marshall Wace LLP boosted its stake in shares of Methanex by 35.7% in the 4th quarter. Marshall Wace LLP now owns 164,854 shares of the specialty chemicals company’s stock valued at $8,233,000 after purchasing an additional 43,328 shares in the last quarter. Value Partners Investments Inc. boosted its stake in shares of Methanex by 7.3% in the 4th quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company’s stock valued at $302,000 after purchasing an additional 411 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Methanex by 46.6% in the 4th quarter. XTX Topco Ltd now owns 10,590 shares of the specialty chemicals company’s stock worth $529,000 after purchasing an additional 3,366 shares during the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Stock Performance

Shares of MEOH opened at $31.07 on Friday. The firm has a market cap of $2.09 billion, a P/E ratio of 13.45 and a beta of 1.06. Methanex Co. has a twelve month low of $25.46 and a twelve month high of $56.43. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The firm’s 50 day moving average price is $35.15 and its two-hundred day moving average price is $42.35.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. On average, analysts forecast that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Monday, March 17th. Methanex’s dividend payout ratio (DPR) is currently 32.03%.

Analysts Set New Price Targets

MEOH has been the topic of several research analyst reports. UBS Group decreased their price objective on shares of Methanex from $66.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of Methanex in a report on Tuesday, April 1st. Piper Sandler lowered Methanex from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $71.00 to $36.00 in a research note on Monday, April 7th. CIBC cut their price target on Methanex from $63.00 to $55.00 and set an “outperformer” rating for the company in a report on Thursday, April 3rd. Finally, Barclays decreased their price objective on shares of Methanex from $57.00 to $41.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.13.

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.