Swiss National Bank Sells 1,900 Shares of Methanex Corporation $MEOH

Swiss National Bank trimmed its stake in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,400 shares of the specialty chemicals company’s stock after selling 1,900 shares during the period. Swiss National Bank owned about 0.19% of Methanex worth $4,611,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Methanex by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,131,471 shares of the specialty chemicals company’s stock worth $74,740,000 after purchasing an additional 14,611 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Methanex by 41.8% in the first quarter. Bank of New York Mellon Corp now owns 1,276,649 shares of the specialty chemicals company’s stock valued at $44,798,000 after buying an additional 376,365 shares in the last quarter. Mackenzie Financial Corp grew its stake in Methanex by 13.7% during the first quarter. Mackenzie Financial Corp now owns 1,224,388 shares of the specialty chemicals company’s stock worth $42,931,000 after buying an additional 147,195 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Methanex by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,047,978 shares of the specialty chemicals company’s stock worth $52,334,000 after buying an additional 50,075 shares in the last quarter. Finally, Alberta Investment Management Corp increased its holdings in shares of Methanex by 1,499.0% during the first quarter. Alberta Investment Management Corp now owns 817,100 shares of the specialty chemicals company’s stock worth $28,671,000 after buying an additional 766,000 shares in the last quarter. 73.49% of the stock is owned by institutional investors.

Methanex Stock Down 0.5%

Shares of NASDAQ MEOH opened at $33.79 on Wednesday. Methanex Corporation has a 1 year low of $25.46 and a 1 year high of $54.49. The firm’s 50-day moving average is $34.15 and its 200-day moving average is $35.47. The company has a current ratio of 2.13, a quick ratio of 1.43 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $2.61 billion, a PE ratio of 9.97 and a beta of 0.93.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.55. Methanex had a net margin of 7.02% and a return on equity of 12.61%. The business had revenue of $808.46 million for the quarter, compared to analyst estimates of $835.04 million. During the same period in the prior year, the business posted $0.62 earnings per share. Methanex’s revenue was down 13.4% compared to the same quarter last year. Equities analysts expect that Methanex Corporation will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.2%. Methanex’s payout ratio is 21.83%.

Analyst Ratings Changes

MEOH has been the topic of a number of research analyst reports. Wall Street Zen lowered Methanex from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Piper Sandler set a $48.00 target price on Methanex and gave the company an “overweight” rating in a research note on Sunday, May 18th. CIBC lifted their price target on Methanex from $42.00 to $44.00 and gave the company an “outperformer” rating in a report on Friday, August 1st. Royal Bank Of Canada raised shares of Methanex from a “sector perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a report on Friday, August 1st. Finally, UBS Group lowered their price objective on shares of Methanex from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.88.

Methanex 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.