Methanex (NASDAQ:MEOH) Share Price Passes Above Two Hundred Day Moving Average of $45.09

Methanex Co. (NASDAQ:MEOH) (TSE:MX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.09 and traded as high as $49.57. Methanex shares last traded at $48.40, with a volume of 337,266 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Scotiabank boosted their price target on shares of Methanex from $54.00 to $58.00 and gave the company a “sector outperform” rating in a research report on Monday, April 29th. Raymond James reduced their price target on shares of Methanex from $67.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. UBS Group boosted their price target on shares of Methanex from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Barclays boosted their price target on shares of Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Finally, Royal Bank of Canada boosted their price target on shares of Methanex from $45.00 to $50.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.88.

Methanex Trading Down 3.1 %

The firm has a market cap of $3.26 billion, a PE ratio of 20.51 and a beta of 1.47. The company has a quick ratio of 0.85, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The stock’s fifty day simple moving average is $46.26 and its two-hundred day simple moving average is $45.09.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, June 14th. Methanex’s payout ratio is 31.36%.

Institutional Investors Weigh In On Methanex

Institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC grew its holdings in shares of Methanex by 346.5% during the first quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 700 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of Methanex during the first quarter valued at approximately $45,000. U S Global Investors Inc. purchased a new stake in shares of Methanex during the first quarter valued at approximately $178,000. Citigroup Inc. grew its holdings in shares of Methanex by 40.2% during the third quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company’s stock valued at $183,000 after buying an additional 1,158 shares during the last quarter. Finally, Ausbil Investment Management Ltd purchased a new stake in shares of Methanex during the fourth quarter valued at approximately $195,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

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.