Methanex Co. (NASDAQ:MEOH) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,001 shares of the specialty chemicals company’s stock after selling 13,693 shares during the quarter. Legal & General Group Plc owned 0.12% of Methanex worth $3,946,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Methanex in the third quarter worth $40,000. Parkside Financial Bank & Trust raised its holdings in shares of Methanex by 39.7% during 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 during the period. Blue Trust Inc. lifted its position 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 worth $142,000 after buying an additional 371 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Methanex in the 4th quarter valued at about $166,000. Finally, Signaturefd LLC grew its position in shares of Methanex by 15.0% during the 4th quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company’s stock valued at $172,000 after buying an additional 450 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MEOH shares. CIBC decreased their target price on Methanex from $63.00 to $55.00 and set an “outperformer” rating for the company in a research note on Thursday, April 3rd. UBS Group reduced their price objective on Methanex from $66.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Piper Sandler lowered Methanex from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $71.00 to $36.00 in a research report on Monday, April 7th. Barclays reduced their price target on shares of Methanex from $57.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price objective on shares of Methanex in a report on Tuesday, April 1st. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.13.

Methanex Price Performance

NASDAQ MEOH opened at $28.76 on Wednesday. The firm has a market capitalization of $1.94 billion, a PE ratio of 12.45 and a beta of 1.06. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00. Methanex Co. has a 12 month low of $25.46 and a 12 month high of $56.43. The company’s 50 day simple moving average is $36.07 and its 200 day simple moving average is $42.61.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, topping 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%. As a group, equities research analysts forecast that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Monday, March 17th. Methanex’s payout ratio is 32.03%.

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.