AMP Capital Investors Ltd lifted its holdings in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,674 shares of the specialty chemicals company’s stock after buying an additional 7,025 shares during the quarter. AMP Capital Investors Ltd owned about 0.20% of Methanex worth $10,191,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. HCR Wealth Advisors lifted its stake in shares of Methanex by 8.7% during the 3rd quarter. HCR Wealth Advisors now owns 19,701 shares of the specialty chemicals company’s stock valued at $991,000 after buying an additional 1,585 shares in the last quarter. Guardian Capital Advisors LP lifted its stake in shares of Methanex by 43.0% during the 3rd quarter. Guardian Capital Advisors LP now owns 7,455 shares of the specialty chemicals company’s stock valued at $475,000 after buying an additional 2,240 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake in shares of Methanex by 32.0% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 16,056 shares of the specialty chemicals company’s stock valued at $975,000 after buying an additional 3,891 shares in the last quarter. FineMark National Bank & Trust purchased a new stake in shares of Methanex during the 4th quarter valued at approximately $253,000. Finally, Legal & General Group Plc lifted its stake in shares of Methanex by 4.3% during the 3rd quarter. Legal & General Group Plc now owns 107,749 shares of the specialty chemicals company’s stock valued at $5,404,000 after buying an additional 4,475 shares in the last quarter. Institutional investors own 80.18% of the company’s stock.
Shares of Methanex Co. (NASDAQ:MEOH) opened at $56.55 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The firm has a market cap of $4,780.00, a price-to-earnings ratio of 15.66, a PEG ratio of 0.61 and a beta of 1.78. Methanex Co. has a 52-week low of $39.47 and a 52-week high of $64.60.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 31st. Stockholders of record on Saturday, March 17th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.32 annualized dividend and a dividend yield of 2.33%. This is a boost from Methanex’s previous quarterly dividend of $0.30. Methanex’s dividend payout ratio (DPR) is 33.24%.
Methanex announced that its board has authorized a stock buyback plan on Monday, March 5th that authorizes the company to buyback 6,590,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
MEOH has been the topic of several recent analyst reports. Scotiabank reiterated a “hold” rating and issued a $63.00 target price (up from $57.50) on shares of Methanex in a research note on Wednesday, January 3rd. BidaskClub upgraded shares of Methanex from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Cowen reiterated an “outperform” rating and issued a $65.00 target price (up from $58.00) on shares of Methanex in a research note on Thursday, December 14th. Raymond James Financial increased their target price on shares of Methanex from $60.00 to $63.50 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. Finally, TD Securities increased their target price on shares of Methanex from $66.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Methanex presently has an average rating of “Hold” and a consensus price target of $59.00.
Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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