ExodusPoint Capital Management LP Grows Stock Holdings in Methanex Co. (NASDAQ:MEOH)

ExodusPoint Capital Management LP grew its stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 209.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 157,520 shares of the specialty chemicals company’s stock after acquiring an additional 106,581 shares during the period. ExodusPoint Capital Management LP’s holdings in Methanex were worth $7,867,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MEOH. US Bancorp DE lifted its holdings in Methanex by 35.7% during the 4th quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company’s stock worth $941,000 after purchasing an additional 4,952 shares in the last quarter. Geode Capital Management LLC grew its stake in Methanex by 1.2% during the third quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock valued at $4,340,000 after acquiring an additional 1,203 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Methanex by 17.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company’s stock worth $415,000 after acquiring an additional 1,245 shares during the period. Barclays PLC lifted its stake in Methanex by 64.9% in the 3rd quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company’s stock worth $845,000 after purchasing an additional 8,047 shares in the last quarter. Finally, 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. 73.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

MEOH has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price objective on shares of Methanex in a research report on Tuesday. UBS Group raised their price target on Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a report on Friday, February 7th. Scotiabank lowered Methanex from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $66.00 to $53.00 in a report on Monday, March 10th. Raymond James raised their target price on shares of Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. 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. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Methanex presently has a consensus rating of “Moderate Buy” and an average target price of $57.63.

Methanex Stock Performance

Methanex stock opened at $28.72 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. The firm has a fifty day simple moving average of $42.47 and a two-hundred day simple moving average of $43.96. The company has a market capitalization of $1.94 billion, a PE ratio of 12.43 and a beta of 1.38. Methanex Co. has a twelve month low of $27.35 and a twelve month high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. Research analysts expect that Methanex Co. will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.185 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.58%. Methanex’s dividend payout ratio is presently 32.03%.

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.