Methanex Co. (NASDAQ:MEOH) Short Interest Update

Methanex Co. (NASDAQ:MEOH) (TSE:MX) saw a large decline in short interest in December. As of December 15th, there was short interest totalling 623,100 shares, a decline of 20.9% from the November 30th total of 787,600 shares. Based on an average daily volume of 318,300 shares, the short-interest ratio is presently 2.0 days. Currently, 0.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MEOH shares. Barclays increased their target price on shares of Methanex from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler lifted their target price on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. CIBC reaffirmed an “outperformer” rating and set a $59.00 price target (up from $48.00) on shares of Methanex in a report on Tuesday, December 10th. Finally, Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Methanex currently has an average rating of “Moderate Buy” and a consensus price target of $57.25.

Methanex Stock Performance

Shares of NASDAQ MEOH traded up $0.55 during midday trading on Friday, hitting $49.00. 303,593 shares of the company’s stock were exchanged, compared to its average volume of 303,321. The company’s 50 day moving average price is $44.29 and its 200 day moving average price is $44.72. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43. The firm has a market capitalization of $3.30 billion, a PE ratio of 22.90 and a beta of 1.40. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.185 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.74 annualized dividend and a dividend yield of 1.51%. Methanex’s dividend payout ratio (DPR) is presently 34.58%.

Institutional Investors Weigh In On Methanex

A number of large investors have recently added to or reduced their stakes in MEOH. Wilmington Savings Fund Society FSB acquired a new stake in shares of Methanex during the 3rd quarter valued at $40,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Methanex by 572.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock worth $93,000 after purchasing an additional 1,626 shares during the period. Blue Trust Inc. lifted its holdings in shares of Methanex by 56.8% during the third quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 896 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Methanex in the 2nd quarter valued at about $201,000. Finally, Value Partners Investments Inc. increased its position in Methanex by 10.4% during the 3rd quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock valued at $233,000 after purchasing an additional 532 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.

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.