Methanex Co. (NASDAQ:MEOH) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 14.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,691 shares of the specialty chemicals company’s stock after selling 2,723 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Methanex were worth $784,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Amundi increased its position in Methanex by 28.9% during the 4th quarter. Amundi now owns 21,943 shares of the specialty chemicals company’s stock worth $1,063,000 after purchasing an additional 4,925 shares in the last quarter. PCJ Investment Counsel Ltd. increased its position in Methanex by 3.6% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 11,800 shares of the specialty chemicals company’s stock worth $589,000 after purchasing an additional 410 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. increased its position in Methanex by 1.4% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 439,069 shares of the specialty chemicals company’s stock worth $21,912,000 after purchasing an additional 5,947 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Methanex during the 4th quarter worth approximately $14,327,000. Finally, Proficio Capital Partners LLC purchased a new position in Methanex in the 4th quarter worth approximately $1,170,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Stock Performance

Methanex stock opened at $37.44 on Friday. The stock has a market cap of $2.52 billion, a P/E ratio of 16.21 and a beta of 1.38. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average of $45.55 and a 200-day moving average of $44.36. Methanex Co. has a 52 week low of $35.67 and a 52 week high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. On average, analysts expect that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, March 17th. Methanex’s dividend payout ratio is currently 32.03%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays upped their price target on Methanex from $54.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Scotiabank cut Methanex from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $66.00 to $53.00 in a report on Monday, March 10th. Raymond James upped their price target on Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a report on Friday, January 31st. Finally, UBS Group upped their price target on Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.63.

About Methanex

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.