Charles Schwab Investment Management Inc. Buys 8,850 Shares of Methanex Co. (NASDAQ:MEOH)

Charles Schwab Investment Management Inc. boosted its stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 205,102 shares of the specialty chemicals company’s stock after acquiring an additional 8,850 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Methanex were worth $8,483,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can boosted its holdings in shares of Methanex by 16.3% during the 2nd quarter. Bank of Montreal Can now owns 1,136,436 shares of the specialty chemicals company’s stock worth $55,406,000 after buying an additional 159,542 shares in the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Methanex by 73.2% during the 2nd quarter. Intact Investment Management Inc. now owns 294,900 shares of the specialty chemicals company’s stock worth $14,236,000 after buying an additional 124,600 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Methanex during the 2nd quarter worth approximately $5,971,000. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Methanex by 9.9% during the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,182,168 shares of the specialty chemicals company’s stock worth $49,022,000 after buying an additional 106,848 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Methanex by 25.7% during the 2nd quarter. TD Asset Management Inc now owns 463,795 shares of the specialty chemicals company’s stock worth $22,387,000 after buying an additional 94,899 shares in the last quarter. 73.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MEOH shares. UBS Group cut their price target on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. CIBC restated an “outperformer” rating and set a $59.00 price target (up from $48.00) on shares of Methanex in a report on Tuesday. Piper Sandler increased their price target on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Raymond James cut their target price on Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Methanex has an average rating of “Moderate Buy” and a consensus target price of $57.25.

Methanex Trading Down 0.4 %

NASDAQ MEOH opened at $47.46 on Wednesday. The firm has a market capitalization of $3.20 billion, a P/E ratio of 22.18 and a beta of 1.40. The business has a fifty day simple moving average of $43.01 and a 200 day simple moving average of $45.18. Methanex Co. has a 12 month low of $36.13 and a 12 month high of $56.43. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79.

Methanex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Tuesday, December 17th. Methanex’s payout ratio is currently 34.58%.

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.