Swiss National Bank Has $5.48 Million Stock Holdings in Methanex Co. (NASDAQ:MEOH)

Swiss National Bank decreased its stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 0.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 132,500 shares of the specialty chemicals company’s stock after selling 1,000 shares during the period. Swiss National Bank’s holdings in Methanex were worth $5,483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. MQS Management LLC acquired a new stake in shares of Methanex in the third quarter valued at about $401,000. Chartwell Investment Partners LLC increased its stake in shares of Methanex by 27.8% in the third quarter. Chartwell Investment Partners LLC now owns 202,863 shares of the specialty chemicals company’s stock valued at $8,387,000 after buying an additional 44,173 shares during the period. Westbourne Investment Advisors Inc. boosted its position in shares of Methanex by 1.6% during the 3rd quarter. Westbourne Investment Advisors Inc. now owns 110,606 shares of the specialty chemicals company’s stock valued at $4,572,000 after purchasing an additional 1,789 shares in the last quarter. US Bancorp DE boosted its position in shares of Methanex by 34.2% during the 3rd quarter. US Bancorp DE now owns 13,888 shares of the specialty chemicals company’s stock valued at $574,000 after purchasing an additional 3,540 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in shares of Methanex by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 21,701 shares of the specialty chemicals company’s stock valued at $897,000 after purchasing an additional 707 shares in the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com upgraded Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Piper Sandler upped their target price on Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 target price on shares of Methanex in a research report on Tuesday, September 3rd. UBS Group cut their target price on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Raymond James cut their target price on Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.88.

Methanex Stock Up 0.5 %

Shares of NASDAQ:MEOH opened at $46.52 on Thursday. The business’s 50 day simple moving average is $41.95 and its two-hundred day simple moving average is $45.57. The firm has a market cap of $3.13 billion, a P/E ratio of 21.74 and a beta of 1.36. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34. Methanex Co. has a 52-week low of $36.13 and a 52-week high of $56.43.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, December 17th. Methanex’s dividend payout ratio (DPR) is presently 34.58%.

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.