Deutsche Bank AG Raises Stock Holdings in Methanex Corporation $MEOH

Deutsche Bank AG raised its holdings in shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 19.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,007 shares of the specialty chemicals company’s stock after purchasing an additional 500 shares during the period. Deutsche Bank AG’s holdings in Methanex were worth $106,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MEOH. Alberta Investment Management Corp boosted its position in Methanex by 1,499.0% in the first quarter. Alberta Investment Management Corp now owns 817,100 shares of the specialty chemicals company’s stock valued at $28,671,000 after buying an additional 766,000 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in Methanex during the 4th quarter valued at approximately $26,835,000. Bank of New York Mellon Corp boosted its holdings in shares of Methanex by 41.8% in the 1st 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 acquiring an additional 376,365 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Methanex by 26.6% in the fourth quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company’s stock worth $53,770,000 after acquiring an additional 226,349 shares during the period. Finally, Man Group plc increased its stake in shares of Methanex by 129.3% in the fourth quarter. Man Group plc now owns 368,539 shares of the specialty chemicals company’s stock worth $18,405,000 after acquiring an additional 207,784 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Stock Down 0.6%

NASDAQ MEOH opened at $35.51 on Tuesday. The business has a fifty day moving average price of $34.01 and a 200 day moving average price of $34.46. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.43 and a current ratio of 2.13. The company has a market cap of $2.75 billion, a P/E ratio of 10.47 and a beta of 0.87. Methanex Corporation has a one year low of $25.46 and a one year high of $54.49.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.55. The company had revenue of $808.46 million for the quarter, compared to analysts’ expectations of $835.04 million. Methanex had a net margin of 7.02% and a return on equity of 12.61%. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 EPS. Research analysts anticipate that Methanex Corporation will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The firm 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. This represents a $0.74 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 16th. Methanex’s dividend payout ratio is currently 21.83%.

Analyst Ratings Changes

MEOH has been the topic of several recent research reports. Royal Bank Of Canada upgraded Methanex from a “sector perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Friday, August 1st. Piper Sandler set a $48.00 target price on shares of Methanex and gave the company an “overweight” rating in a research note on Sunday, May 18th. UBS Group dropped their price target on shares of Methanex from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Raymond James Financial set a $45.00 price objective on shares of Methanex and gave the company an “outperform” rating in a report on Tuesday, July 15th. Finally, CIBC increased their target price on shares of Methanex from $42.00 to $44.00 and gave the stock an “outperformer” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.