7,100 Shares in Methanex Co. (NASDAQ:MEOH) Purchased by Quadrature Capital Ltd

Quadrature Capital Ltd purchased a new stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 7,100 shares of the specialty chemicals company’s stock, valued at approximately $294,000.

A number of other hedge funds also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Methanex by 52,500.0% during the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock worth $70,000 after acquiring an additional 1,575 shares during the period. U S Global Investors Inc. lifted its stake in Methanex by 125.0% during the second quarter. U S Global Investors Inc. now owns 9,000 shares of the specialty chemicals company’s stock worth $434,000 after purchasing an additional 5,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Methanex by 24.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,664 shares of the specialty chemicals company’s stock valued at $708,000 after purchasing an additional 2,902 shares in the last quarter. Intact Investment Management Inc. grew its stake in shares of Methanex by 73.2% in the 2nd quarter. Intact Investment Management Inc. now owns 294,900 shares of the specialty chemicals company’s stock valued at $14,236,000 after purchasing an additional 124,600 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Methanex by 7.7% in the 2nd quarter. CIBC Asset Management Inc now owns 83,699 shares of the specialty chemicals company’s stock worth $4,038,000 after buying an additional 5,963 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Stock Down 0.4 %

NASDAQ:MEOH opened at $47.46 on Wednesday. The stock’s fifty day moving average price is $43.01 and its two-hundred day moving average price is $45.18. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 22.18 and a beta of 1.40. Methanex Co. has a 52-week low of $36.13 and a 52-week high of $56.43. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.185 dividend. 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 1.56%. Methanex’s payout ratio is 34.58%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Raymond James lowered their price target on Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. Barclays upped their target price on shares of Methanex from $44.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. CIBC reaffirmed an “outperformer” rating and set a $59.00 price objective (up from $48.00) on shares of Methanex in a research note on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a report on Tuesday, September 3rd. Finally, Piper Sandler boosted their target price on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, 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.