US Bancorp DE Raises Stock Position in Methanex Co. (NASDAQ:MEOH)

US Bancorp DE boosted its position in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 35.7% in the fourth quarter, HoldingsChannel reports. The fund owned 18,840 shares of the specialty chemicals company’s stock after purchasing an additional 4,952 shares during the quarter. US Bancorp DE’s holdings in Methanex were worth $941,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MEOH. Geode Capital Management LLC lifted its holdings in shares of Methanex by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock valued at $4,340,000 after purchasing an additional 1,203 shares during the last quarter. Barclays PLC increased its position in Methanex by 64.9% during the 3rd quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company’s stock valued at $845,000 after buying an additional 8,047 shares in the last quarter. Blue Trust Inc. increased its position in Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock valued at $142,000 after buying an additional 371 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Methanex in the third quarter valued at about $1,092,000. Finally, Point72 Asset Management L.P. boosted its holdings in Methanex by 1,495.7% in 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 in the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Methanex Trading Up 1.3 %

Shares of Methanex stock opened at $42.25 on Monday. The stock has a market cap of $2.85 billion, a PE ratio of 18.29 and a beta of 1.38. The firm has a fifty day moving average price of $47.96 and a 200 day moving average price of $44.95. Methanex Co. has a 1 year low of $36.13 and a 1 year high of $56.43. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Equities research analysts predict that Methanex Co. will post 4.32 earnings per share for the current year.

Methanex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Monday, March 17th. Methanex’s payout ratio is presently 32.03%.

Analysts Set New Price Targets

MEOH has been the topic of several recent analyst reports. CIBC restated an “outperform” rating on shares of Methanex in a report on Monday, February 3rd. Scotiabank upped their price target on shares of Methanex from $60.00 to $66.00 and gave the company a “sector outperform” rating in a research note on Thursday, January 30th. Piper Sandler lifted their price objective on shares of Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Barclays raised their target price on Methanex from $54.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Methanex currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

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.