Scheer Rowlett & Associates Investment Management Ltd. Buys 5,947 Shares of Methanex Co. (NASDAQ:MEOH)

Scheer Rowlett & Associates Investment Management Ltd. boosted its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 439,069 shares of the specialty chemicals company’s stock after buying an additional 5,947 shares during the quarter. Methanex accounts for about 1.6% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 22nd largest holding. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Methanex were worth $21,912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Methanex in the 3rd quarter worth approximately $40,000. Parkside Financial Bank & Trust lifted its holdings in shares of Methanex by 39.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 573 shares in the last quarter. Blue Trust Inc. boosted its holdings in Methanex by 15.0% in the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock valued at $142,000 after purchasing an additional 371 shares during the period. SBI Securities Co. Ltd. bought a new stake in Methanex during the fourth quarter valued at $166,000. Finally, Legacy Wealth Asset Management LLC purchased a new position in shares of Methanex during the fourth quarter worth about $220,000. 73.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a research note on Friday, January 31st. Scotiabank increased their price target on Methanex from $60.00 to $66.00 and gave the company a “sector outperform” rating in a report on Thursday, January 30th. CIBC reiterated an “outperform” rating on shares of Methanex in a research report on Monday, February 3rd. Finally, Piper Sandler raised their target price on shares of Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.25.

Methanex Trading Up 1.3 %

Shares of Methanex stock opened at $42.25 on Friday. The firm’s 50 day simple moving average is $47.96 and its two-hundred day simple moving average is $44.94. Methanex Co. has a 12-month low of $36.13 and a 12-month high of $56.43. 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 firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.29 and a beta of 1.38.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. Analysts predict that Methanex Co. will post 4.32 EPS for the current year.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.75%. Methanex’s dividend payout ratio is currently 32.03%.

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.