Methanex Corporation $MEOH Shares Purchased by Granite Investment Partners LLC

Granite Investment Partners LLC boosted its position in Methanex Corporation (NASDAQ:MEOH) (TSE:MX) by 39.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,273 shares of the specialty chemicals company’s stock after buying an additional 95,159 shares during the period. Granite Investment Partners LLC owned approximately 0.43% of Methanex worth $13,330,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Amundi boosted its holdings in shares of Methanex by 3.9% in the first quarter. Amundi now owns 22,791 shares of the specialty chemicals company’s stock valued at $800,000 after acquiring an additional 848 shares in the last quarter. CWM LLC acquired a new stake in Methanex in the second quarter valued at about $33,000. MQS Management LLC purchased a new stake in Methanex in the 2nd quarter valued at approximately $387,000. Y Intercept Hong Kong Ltd increased its position in Methanex by 17.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 29,173 shares of the specialty chemicals company’s stock worth $966,000 after purchasing an additional 4,380 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Methanex by 35.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,728,377 shares of the specialty chemicals company’s stock worth $57,209,000 after purchasing an additional 451,728 shares during the period. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Stock Performance

Shares of MEOH opened at $49.37 on Monday. Methanex Corporation has a 12-month low of $25.46 and a 12-month high of $51.94. The stock has a market cap of $3.82 billion, a P/E ratio of 16.74 and a beta of 0.68. The company has a current ratio of 2.09, a quick ratio of 1.33 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average of $45.20 and a two-hundred day moving average of $39.66.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, March 17th. Methanex’s dividend payout ratio is 25.08%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Methanex in a research note on Monday, December 29th. Scotiabank restated an “outperform” rating on shares of Methanex in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised shares of Methanex from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $33.00 to $38.00 in a research note on Friday, October 31st. UBS Group raised their price objective on shares of Methanex from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Zacks Research raised shares of Methanex from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Methanex currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).