Intact Investment Management Inc. Sells 8,000 Shares of Methanex Co. (NASDAQ:MEOH)

Intact Investment Management Inc. lessened its stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,000 shares of the specialty chemicals company’s stock after selling 8,000 shares during the quarter. Intact Investment Management Inc.’s holdings in Methanex were worth $8,278,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MEOH. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Methanex by 42.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,612 shares of the specialty chemicals company’s stock valued at $616,000 after acquiring an additional 4,031 shares during the period. Mackenzie Financial Corp grew its stake in Methanex by 20.0% in the third quarter. Mackenzie Financial Corp now owns 739,849 shares of the specialty chemicals company’s stock valued at $31,950,000 after acquiring an additional 123,296 shares during the period. Advisor Partners II LLC acquired a new position in Methanex in the third quarter valued at about $209,000. Westbourne Investment Advisors Inc. grew its stake in Methanex by 0.5% in the third quarter. Westbourne Investment Advisors Inc. now owns 103,751 shares of the specialty chemicals company’s stock valued at $4,674,000 after acquiring an additional 553 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Methanex in the third quarter valued at about $364,000. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Stock Up 1.0 %

NASDAQ MEOH traded up $0.50 during trading hours on Friday, hitting $48.27. 490,873 shares of the company traded hands, compared to its average volume of 376,818. The business’s 50-day moving average is $45.55 and its 200-day moving average is $44.73. Methanex Co. has a twelve month low of $38.18 and a twelve month high of $51.42. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 1.17. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 20.45 and a beta of 1.50.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.24. The firm had revenue of $922.00 million for the quarter, compared to analyst estimates of $901.21 million. Methanex had a return on equity of 5.38% and a net margin of 4.63%. Sell-side analysts anticipate that Methanex Co. will post 2.35 earnings per share for the current year.

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.74 annualized dividend and a yield of 1.53%. Methanex’s dividend payout ratio is 31.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Methanex in a research report on Thursday, March 7th. TheStreet raised Methanex from a “c” rating to a “b-” rating in a research report on Thursday, January 11th. Raymond James reduced their price objective on Methanex from $67.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. UBS Group upped their price objective on Methanex from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays upped their price objective on Methanex from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.38.

Methanex 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.