BNP Paribas Financial Markets Sells 4,042 Shares of Methanex Co. (NASDAQ:MEOH)

BNP Paribas Financial Markets decreased its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 66.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,077 shares of the specialty chemicals company’s stock after selling 4,042 shares during the quarter. BNP Paribas Financial Markets’ holdings in Methanex were worth $86,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can boosted its holdings in Methanex by 16.3% during the second quarter. Bank of Montreal Can now owns 1,136,436 shares of the specialty chemicals company’s stock worth $55,406,000 after purchasing an additional 159,542 shares during the last quarter. Intact Investment Management Inc. grew its holdings in shares of Methanex by 73.2% in the second quarter. Intact Investment Management Inc. now owns 294,900 shares of the specialty chemicals company’s stock valued at $14,236,000 after acquiring an additional 124,600 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Methanex in the second quarter valued at approximately $5,971,000. Dixon Mitchell Investment Counsel Inc. increased its position in shares of Methanex by 9.9% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,182,168 shares of the specialty chemicals company’s stock valued at $49,022,000 after acquiring an additional 106,848 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in Methanex by 25.7% during the second quarter. TD Asset Management Inc now owns 463,795 shares of the specialty chemicals company’s stock worth $22,387,000 after acquiring an additional 94,899 shares during the period. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Stock Down 2.9 %

Methanex stock opened at $45.75 on Thursday. Methanex Co. has a 1-year low of $36.13 and a 1-year high of $56.43. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 21.38 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. The firm has a 50 day simple moving average of $43.42 and a 200 day simple moving average of $44.92.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.185 per share. 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 1.62%. Methanex’s dividend payout ratio (DPR) is 34.58%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MEOH. Raymond James reduced their price objective on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Barclays boosted their target price on shares of Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler upped their price objective on Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.25.

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.