Pictet Asset Management Ltd. grew its position in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,869 shares of the specialty chemicals company’s stock after purchasing an additional 400 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Methanex were worth $1,040,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in MEOH. Dimensional Fund Advisors LP raised its holdings in Methanex by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 239,175 shares of the specialty chemicals company’s stock worth $11,521,000 after purchasing an additional 2,777 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Methanex in the 1st quarter valued at $198,000. TD Asset Management Inc. increased its stake in shares of Methanex by 10.7% in the 1st quarter. TD Asset Management Inc. now owns 789,341 shares of the specialty chemicals company’s stock valued at $44,845,000 after acquiring an additional 76,399 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Methanex in the 1st quarter valued at $10,616,000. Finally, PCJ Investment Counsel Ltd. bought a new stake in shares of Methanex in the 1st quarter valued at $8,829,000. Hedge funds and other institutional investors own 65.13% of the company’s stock.
NASDAQ MEOH traded up $0.42 during mid-day trading on Thursday, hitting $36.90. The company’s stock had a trading volume of 8,623 shares, compared to its average volume of 397,815. The company’s 50 day simple moving average is $33.64 and its 200 day simple moving average is $46.11. Methanex Co. has a twelve month low of $30.25 and a twelve month high of $83.23. The company has a current ratio of 1.04, a quick ratio of 0.71 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 2.58 and a beta of 1.74.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Friday, September 13th. Methanex’s dividend payout ratio is 20.99%.
MEOH has been the subject of several research analyst reports. Barclays lowered their price objective on shares of Methanex from $53.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. UBS Group lowered their price objective on shares of Methanex from $35.00 to $26.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Alembic Global Advisors set a $55.00 price objective on shares of Methanex and gave the company a “hold” rating in a research note on Monday, August 26th. TheStreet lowered shares of Methanex from a “b-” rating to a “c+” rating in a research note on Friday, August 16th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $69.00 price objective (down previously from $77.00) on shares of Methanex in a research note on Thursday, June 27th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Methanex currently has a consensus rating of “Hold” and a consensus target price of $56.88.
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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