Methanex Co. (NASDAQ:MEOH) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp increased its position in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 5.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 777,968 shares of the specialty chemicals company’s stock after acquiring an additional 38,119 shares during the quarter. Mackenzie Financial Corp’s holdings in Methanex were worth $36,819,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC grew its holdings in Methanex by 37.2% during the first quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 302 shares during the period. Tower Research Capital LLC TRC grew its holdings in Methanex by 1,158.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,271 shares of the specialty chemicals company’s stock worth $53,000 after acquiring an additional 1,170 shares during the period. State of Wyoming purchased a new position in Methanex in the 4th quarter worth about $92,000. Deutsche Bank AG purchased a new position in Methanex in the 4th quarter worth about $101,000. Finally, Citigroup Inc. increased its stake in Methanex by 43.3% in the 2nd quarter. Citigroup Inc. now owns 2,884 shares of the specialty chemicals company’s stock worth $119,000 after purchasing an additional 871 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Stock Down 1.3 %

Shares of Methanex stock opened at $46.89 on Thursday. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 19.06 and a beta of 1.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.14 and a quick ratio of 0.81. Methanex Co. has a 52-week low of $38.18 and a 52-week high of $51.42. The stock has a 50-day simple moving average of $45.31 and a 200-day simple moving average of $44.52.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.24. The business had revenue of $922.00 million during the quarter, compared to analyst estimates of $901.21 million. Methanex had a return on equity of 6.71% and a net margin of 4.67%. On average, equities research analysts expect that Methanex Co. will post 2.15 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Wednesday, March 13th. Methanex’s dividend payout ratio is currently 30.08%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MEOH. Piper Sandler reissued a “neutral” rating and issued a $50.00 price target on shares of Methanex in a research note on Thursday, March 7th. CIBC lifted their price target on Methanex from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. UBS Group upgraded Methanex from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $51.00 to $60.00 in a research report on Thursday, February 8th. Raymond James decreased their price objective on Methanex from $67.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Finally, Barclays raised their price objective on Methanex from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Methanex presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.50.

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.