XTX Topco Ltd Invests $299,000 in Methanex Co. (NASDAQ:MEOH)

XTX Topco Ltd bought a new position in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) during the third quarter, HoldingsChannel reports. The institutional investor bought 7,224 shares of the specialty chemicals company’s stock, valued at approximately $299,000.

A number of other institutional investors have also modified their holdings of the stock. National Bank of Canada FI increased its position in shares of Methanex by 41.7% during the third quarter. National Bank of Canada FI now owns 47,523 shares of the specialty chemicals company’s stock worth $1,964,000 after acquiring an additional 13,976 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Methanex during the third quarter worth approximately $294,000. Point72 Asset Management L.P. increased its position in shares of Methanex by 1,495.7% during the third quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company’s stock worth $5,739,000 after acquiring an additional 130,127 shares during the period. Centiva Capital LP increased its position in shares of Methanex by 26.2% during the third quarter. Centiva Capital LP now owns 7,366 shares of the specialty chemicals company’s stock worth $305,000 after acquiring an additional 1,530 shares during the period. Finally, PDT Partners LLC increased its position in shares of Methanex by 83.3% during the third quarter. PDT Partners LLC now owns 53,488 shares of the specialty chemicals company’s stock worth $2,211,000 after acquiring an additional 24,314 shares during the period. 73.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group cut their price objective on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Barclays lifted their price objective on shares of Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Raymond James cut their price objective on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Methanex currently has a consensus rating of “Moderate Buy” and an average target price of $57.25.

Methanex Price Performance

Shares of MEOH opened at $47.12 on Wednesday. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 22.02 and a beta of 1.40. Methanex Co. has a twelve month low of $36.13 and a twelve month high of $56.43. 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 company has a 50 day moving average of $43.37 and a two-hundred day moving average of $44.91.

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 paid a $0.185 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.74 annualized dividend and a yield of 1.57%. Methanex’s dividend payout ratio (DPR) is 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.