Northwest & Ethical Investments L.P. Purchases 24,189 Shares of Methanex Co. (NASDAQ:MEOH)

Northwest & Ethical Investments L.P. increased its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 589.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,291 shares of the specialty chemicals company’s stock after buying an additional 24,189 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Methanex were worth $1,411,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MEOH. Bank of New York Mellon Corp lifted its position in Methanex by 4,776.7% in the 4th quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company’s stock worth $44,960,000 after buying an additional 881,823 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Methanex during the fourth quarter valued at approximately $14,327,000. Boston Partners boosted its stake in shares of Methanex by 36.0% during the fourth quarter. Boston Partners now owns 989,534 shares of the specialty chemicals company’s stock valued at $49,393,000 after purchasing an additional 262,087 shares during the period. Highland Peak Capital LLC purchased a new stake in shares of Methanex during the fourth quarter valued at approximately $10,400,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of Methanex by 1,495.7% during the third quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company’s stock valued at $5,739,000 after purchasing an additional 130,127 shares during the period. Institutional investors own 73.49% of the company’s stock.

Methanex Price Performance

MEOH opened at $37.44 on Friday. The stock has a fifty day simple moving average of $45.55 and a two-hundred day simple moving average of $44.36. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 16.21 and a beta of 1.38. Methanex Co. has a 12-month low of $35.67 and a 12-month high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (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%. Research analysts predict that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.185 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.98%. Methanex’s dividend payout ratio (DPR) is 32.03%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MEOH. UBS Group increased their price objective on Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Raymond James increased their price objective on Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Scotiabank lowered Methanex from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $66.00 to $53.00 in a research note on Monday, March 10th. CIBC reaffirmed an “outperform” rating on shares of Methanex in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.63.

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.