Cyrus Capital Partners L.P. Invests $6.24 Million in Methanex Co. (NASDAQ:MEOH)

Cyrus Capital Partners L.P. bought a new stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) in the 4th quarter, Holdings Channel.com reports. The fund bought 125,000 shares of the specialty chemicals company’s stock, valued at approximately $6,242,000. Methanex accounts for about 1.8% of Cyrus Capital Partners L.P.’s holdings, making the stock its 3rd biggest position.

Several other large investors have also recently added to or reduced their stakes in MEOH. US Bancorp DE increased its holdings in shares of Methanex by 35.7% during the 4th quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company’s stock worth $941,000 after buying an additional 4,952 shares during the last quarter. Vanguard Group Inc. grew its position in Methanex by 1.8% during 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 acquiring an additional 37,658 shares during the period. Geode Capital Management LLC increased its stake in Methanex by 1.2% during the third quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock worth $4,340,000 after acquiring an additional 1,203 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Methanex by 17.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company’s stock worth $415,000 after purchasing an additional 1,245 shares during the period. Finally, Barclays PLC lifted its stake in shares of Methanex by 64.9% in the 3rd quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company’s stock valued at $845,000 after purchasing an additional 8,047 shares in the last quarter. 73.49% of the stock is currently owned by hedge funds and other institutional investors.

Methanex Stock Performance

NASDAQ:MEOH opened at $31.07 on Monday. The firm has a 50-day moving average of $35.15 and a two-hundred day moving average of $42.34. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00. The stock has a market cap of $2.09 billion, a P/E ratio of 13.45 and a beta of 1.06. Methanex Co. has a 1-year low of $25.46 and a 1-year high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS 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%. On average, research analysts expect that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.185 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.38%. Methanex’s dividend payout ratio (DPR) is presently 32.03%.

Analysts Set New Price Targets

MEOH has been the subject of a number of research analyst reports. Scotiabank downgraded shares of Methanex from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $66.00 to $53.00 in a research report on Monday, March 10th. Raymond James dropped their price objective on shares of Methanex from $62.00 to $40.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 target price on shares of Methanex in a report on Tuesday, April 1st. Barclays lowered their price target on Methanex from $57.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Finally, Piper Sandler cut Methanex from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $71.00 to $36.00 in a research note on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Methanex presently has an average rating of “Moderate Buy” and an average target price of $49.13.

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.