M&G Plc Has $527.46 Million Stake in Methanex Co. (NASDAQ:MEOH)

M&G Plc cut its stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,864,931 shares of the specialty chemicals company’s stock after selling 161,625 shares during the quarter. Methanex comprises approximately 2.7% of M&G Plc’s holdings, making the stock its 5th largest holding. M&G Plc owned approximately 19.09% of Methanex worth $527,462,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MEOH. Headlands Technologies LLC lifted its position in shares of Methanex by 346.5% during the first quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 700 shares during the last quarter. Larson Financial Group LLC purchased a new position in shares of Methanex during the first quarter valued at $45,000. Blue Trust Inc. increased its stake in shares of Methanex by 52,500.0% during the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock valued at $70,000 after buying an additional 1,575 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Methanex by 572.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock valued at $93,000 after buying an additional 1,626 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Methanex during the second quarter valued at $201,000. 73.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Piper Sandler raised their price target on Methanex from $51.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Barclays lowered Methanex from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $56.00 to $44.00 in a research note on Tuesday, September 10th. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price target on shares of Methanex in a research note on Tuesday, September 3rd. 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 note on Wednesday, September 11th. Finally, Scotiabank lifted their target price on Methanex from $58.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.38.

Methanex Trading Down 1.0 %

Methanex stock opened at $38.97 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.80. Methanex Co. has a 52 week low of $36.13 and a 52 week high of $56.43. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 18.13 and a beta of 1.36. The stock has a 50-day moving average price of $41.16 and a 200 day moving average price of $46.06.

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.