Renaissance Technologies LLC decreased its position in shares of Methanex Co. (NASDAQ:MEOH – Get Rating) (TSE:MX) by 24.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 255,550 shares of the specialty chemicals company’s stock after selling 81,798 shares during the period. Renaissance Technologies LLC owned about 0.37% of Methanex worth $8,143,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Methanex by 178.4% during the 1st quarter. JPMorgan Chase & Co. now owns 53,409 shares of the specialty chemicals company’s stock valued at $2,914,000 after purchasing an additional 34,223 shares in the last quarter. Citigroup Inc. acquired a new stake in shares of Methanex in the first quarter valued at $230,000. Great West Life Assurance Co. Can raised its holdings in shares of Methanex by 27.5% in the first quarter. Great West Life Assurance Co. Can now owns 7,845 shares of the specialty chemicals company’s stock valued at $456,000 after buying an additional 1,691 shares during the last quarter. Cibc World Market Inc. lifted its position in Methanex by 65.0% during the 1st quarter. Cibc World Market Inc. now owns 57,960 shares of the specialty chemicals company’s stock worth $3,162,000 after buying an additional 22,826 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Methanex by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 455,377 shares of the specialty chemicals company’s stock valued at $24,846,000 after acquiring an additional 24,201 shares in the last quarter. Institutional investors own 69.38% of the company’s stock.
Methanex Price Performance
Shares of MEOH stock opened at $50.61 on Wednesday. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 11.32 and a beta of 1.62. Methanex Co. has a 12-month low of $28.73 and a 12-month high of $56.79. The company has a quick ratio of 1.52, a current ratio of 1.99 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average of $46.49 and a 200-day moving average of $39.79.
Methanex Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, March 16th. Methanex’s dividend payout ratio (DPR) is presently 15.66%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. Tudor, Pickering, Holt & Co. upgraded shares of Methanex from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, February 6th. Jefferies Financial Group reduced their price objective on Methanex from $56.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, December 19th. Tudor Pickering raised Methanex from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, February 6th. Royal Bank of Canada upped their price target on Methanex from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 1st. Finally, BMO Capital Markets lifted their price objective on Methanex from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, February 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.83.
Methanex Profile
Methanex Corp. engages in the production and supply of methanol. The firm supplies in the international market such as North America, Asia Pacific, Europe, and South America. It also operates the methanol ocean tanker fleet. The company was founded on March 11, 1968 and is headquartered in Vancouver, Canada.
Featured Articles
- Get a free copy of the StockNews.com research report on Methanex (MEOH)
- Under-the-Radar Azul SA Takes Flight on Robust Travel Demand
- Market Gets “Powelled”: S&P 500 Confirms Resistance
- Ulta Insiders Hold Tight: Sell-Siders Buy
- Rivian Plummets, But Is This 2023’s Greatest Buying Opportunity?
- Potential Earnings Have Rated Ambrx Biopharma a Moderate Buy
Want to see what other hedge funds are holding MEOH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Methanex Co. (NASDAQ:MEOH – Get Rating) (TSE:MX).
Receive News & Ratings for Methanex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex and related companies with MarketBeat.com's FREE daily email newsletter.
