Point72 Asia Singapore Pte. Ltd. Invests $106,000 in Methanex Co. (NASDAQ:MEOH)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,118 shares of the specialty chemicals company’s stock, valued at approximately $106,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its holdings in Methanex by 39.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock worth $101,000 after purchasing an additional 573 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Methanex by 15.0% in the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock valued at $142,000 after acquiring an additional 371 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Methanex during the 4th quarter valued at $166,000. Signaturefd LLC boosted its stake in Methanex by 15.0% during the fourth quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company’s stock worth $172,000 after acquiring an additional 450 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in Methanex in the fourth quarter worth $203,000. Institutional investors own 73.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MEOH shares. Royal Bank of Canada dropped their price objective on shares of Methanex from $55.00 to $50.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Barclays dropped their price target on Methanex from $57.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. StockNews.com cut Methanex from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Piper Sandler lowered Methanex from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $71.00 to $36.00 in a research report on Monday, April 7th. Finally, UBS Group cut their target price on Methanex from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Methanex Stock Up 0.2%

Shares of NASDAQ:MEOH opened at $33.57 on Friday. The business’s 50 day moving average is $32.26 and its 200 day moving average is $41.51. Methanex Co. has a 12-month low of $25.46 and a 12-month high of $56.43. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 14.53 and a beta of 0.93. 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 (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. The business had revenue of $857.90 million for the quarter, compared to analysts’ expectations of $1.06 billion. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The business’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. On average, sell-side analysts forecast that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Monday, June 16th. Methanex’s payout ratio is currently 24.83%.

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.