Brokerages Set Methanex Co. (NASDAQ:MEOH) PT at $57.25

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $57.25.

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Piper Sandler boosted their price objective on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Raymond James lowered their target price on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. UBS Group reduced their price target on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th.

Methanex Trading Up 2.4 %

Shares of MEOH stock opened at $48.43 on Friday. The company has a market capitalization of $3.26 billion, a P/E ratio of 22.63 and a beta of 1.40. Methanex has a 12-month low of $36.13 and a 12-month high of $56.43. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $43.68 and a 200 day moving average price of $44.78.

Methanex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Tuesday, December 17th. Methanex’s dividend payout ratio (DPR) is currently 34.58%.

Institutional Investors Weigh In On Methanex

A number of institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in Methanex during the third quarter worth about $40,000. Blue Trust Inc. boosted its stake in Methanex by 52,500.0% during the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock worth $70,000 after acquiring an additional 1,575 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Methanex by 572.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock valued at $93,000 after purchasing an additional 1,626 shares during the period. Squarepoint Ops LLC bought a new stake in Methanex in the second quarter valued at approximately $201,000. Finally, Value Partners Investments Inc. raised its holdings in Methanex by 10.4% in the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock worth $233,000 after purchasing an additional 532 shares during the period. 73.49% of the stock is owned by institutional investors and hedge funds.

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.