US Bancorp DE cut its stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 23.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,470 shares of the specialty chemicals company’s stock after selling 2,864 shares during the period. US Bancorp DE’s holdings in Methanex were worth $538,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of MEOH. Janney Montgomery Scott LLC purchased a new stake in shares of Methanex in the fourth quarter valued at $453,000. Financial Gravity Companies Inc. purchased a new position in Methanex during the 4th quarter valued at about $36,000. Victory Capital Management Inc. boosted its holdings in shares of Methanex by 37.3% in the 4th quarter. Victory Capital Management Inc. now owns 44,780 shares of the specialty chemicals company’s stock valued at $2,157,000 after buying an additional 12,167 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of Methanex in the 4th quarter valued at about $515,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Methanex in the 4th quarter valued at about $305,000. 70.06% of the stock is currently owned by institutional investors.
Shares of NASDAQ MEOH opened at $44.14 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. Methanex Co. has a 12 month low of $41.30 and a 12 month high of $83.23. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 6.43, a price-to-earnings-growth ratio of 0.77 and a beta of 1.68.
The company also recently announced a quarterly dividend, which will be paid on Sunday, June 30th. Stockholders of record on Sunday, June 16th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.26%. This is a positive change from Methanex’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, June 13th. Methanex’s payout ratio is 19.24%.
A number of analysts recently commented on the stock. BidaskClub cut shares of Methanex from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. ValuEngine cut shares of Methanex from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Royal Bank of Canada lowered their target price on shares of Methanex from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Raymond James set a $80.00 target price on shares of Methanex and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, Barclays set a $60.00 target price on shares of Methanex and gave the stock a “hold” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.62.
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Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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