Methanex Co. (NASDAQ:MEOH) Shares Bought by XTX Topco Ltd

XTX Topco Ltd raised its stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 46.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,590 shares of the specialty chemicals company’s stock after acquiring an additional 3,366 shares during the period. XTX Topco Ltd’s holdings in Methanex were worth $529,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Methanex by 1.3% during the 4th quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company’s stock worth $241,549,000 after purchasing an additional 62,467 shares during the period. FMR LLC boosted its position in shares of Methanex by 3.0% during the fourth quarter. FMR LLC now owns 3,330,889 shares of the specialty chemicals company’s stock worth $166,384,000 after buying an additional 95,950 shares during the period. Vanguard Group Inc. grew its stake in shares of Methanex by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company’s stock valued at $105,779,000 after buying an additional 37,658 shares in the last quarter. Boston Partners raised its holdings in shares of Methanex by 36.0% in the 4th quarter. Boston Partners now owns 989,534 shares of the specialty chemicals company’s stock valued at $49,393,000 after buying an additional 262,087 shares during the period. Finally, Bank of Montreal Can lifted its stake in Methanex by 7.0% during the 4th quarter. Bank of Montreal Can now owns 957,677 shares of the specialty chemicals company’s stock worth $47,794,000 after acquiring an additional 62,693 shares in the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Stock Performance

Shares of MEOH opened at $27.02 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. Methanex Co. has a 52-week low of $25.46 and a 52-week high of $56.43. The stock has a 50 day moving average price of $36.81 and a 200 day moving average price of $42.84. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 11.70 and a beta of 1.06.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. Research analysts predict that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 2.74%. The ex-dividend date was Monday, March 17th. Methanex’s dividend payout ratio (DPR) is 32.03%.

Analyst Ratings Changes

A number of brokerages have issued reports on MEOH. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price target on shares of Methanex in a research note on Tuesday, April 1st. CIBC reduced their target price on shares of Methanex from $63.00 to $55.00 and set an “outperformer” rating on the stock in a report on Thursday, April 3rd. Scotiabank downgraded shares of Methanex from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $66.00 to $53.00 in a research note on Monday, March 10th. UBS Group reduced their price objective on Methanex from $66.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Raymond James lowered their target price on Methanex from $62.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Methanex presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.13.

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.