Methanex Co. (NASDAQ:MEOH) Stock Position Decreased by Addenda Capital Inc.

Addenda Capital Inc. decreased its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 159,739 shares of the specialty chemicals company’s stock after selling 456 shares during the period. Addenda Capital Inc. owned approximately 0.24% of Methanex worth $7,977,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Methanex in the 3rd quarter valued at approximately $40,000. EverSource Wealth Advisors LLC increased its stake in shares of Methanex by 572.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock worth $93,000 after purchasing an additional 1,626 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Methanex by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 896 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Methanex during the 2nd quarter worth $201,000. Finally, Legacy Wealth Asset Management LLC acquired a new position in Methanex in the 4th quarter valued at $220,000. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Stock Down 1.1 %

Shares of NASDAQ MEOH opened at $49.32 on Tuesday. Methanex Co. has a 12 month low of $36.13 and a 12 month high of $56.43. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 23.05 and a beta of 1.37. The business has a 50-day moving average of $47.09 and a 200-day moving average of $44.82.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Tuesday, December 17th. Methanex’s dividend payout ratio is currently 34.58%.

Analysts Set New Price Targets

A number of analysts have weighed in on MEOH shares. Barclays increased their price target on shares of Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 target price on shares of Methanex in a research report on Monday, January 6th. Piper Sandler raised their price objective on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.