Swiss National Bank Sells 1,000 Shares of Methanex Co. (NASDAQ:MEOH)

Swiss National Bank cut its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,500 shares of the specialty chemicals company’s stock after selling 1,000 shares during the quarter. Swiss National Bank owned about 0.20% of Methanex worth $5,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of MEOH. Blue Trust Inc. lifted its position in shares of Methanex by 52,500.0% during the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock valued at $70,000 after acquiring an additional 1,575 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Methanex by 572.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock valued at $93,000 after acquiring an additional 1,626 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Methanex during the 2nd quarter valued at $201,000. Value Partners Investments Inc. lifted its position in shares of Methanex by 10.4% during the 3rd quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock valued at $233,000 after acquiring an additional 532 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in shares of Methanex during the 1st quarter valued at $239,000. 73.49% of the stock is currently owned by institutional investors.

Methanex Price Performance

Shares of MEOH opened at $46.52 on Thursday. Methanex Co. has a 12-month low of $36.13 and a 12-month high of $56.43. The business has a 50-day simple moving average of $41.95 and a two-hundred day simple moving average of $45.57. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. The stock has a market cap of $3.13 billion, a PE ratio of 21.74 and a beta of 1.36.

Methanex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.59%. Methanex’s payout ratio is presently 34.58%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MEOH. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 target price on shares of Methanex in a research report on Tuesday, September 3rd. Barclays boosted their price target on Methanex from $44.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Raymond James lowered their price target on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, September 11th. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Piper Sandler boosted 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Methanex has an average rating of “Moderate Buy” and an average price target of $55.88.

Methanex 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.