Methanex Co. (NASDAQ:MEOH) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank grew its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 7.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,819 shares of the specialty chemicals company’s stock after buying an additional 2,590 shares during the quarter. Toronto Dominion Bank’s holdings in Methanex were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings 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 valued at $70,000 after acquiring an additional 1,575 shares during the period. EverSource Wealth Advisors LLC lifted its position 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 in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Methanex in the second quarter valued at approximately $201,000. Value Partners Investments Inc. grew its holdings in shares of Methanex by 10.4% in the third 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 in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Methanex during the 3rd quarter worth approximately $294,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MEOH. CIBC reissued an “outperformer” rating and issued a $59.00 price target (up previously from $48.00) on shares of Methanex in a research report on Tuesday, December 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 target price on shares of Methanex in a research note on Tuesday, September 3rd. UBS Group cut their price target on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Barclays lifted their price objective on Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Methanex presently has an average rating of “Moderate Buy” and an average price target of $57.25.

Methanex Trading Down 0.4 %

MEOH opened at $45.72 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34. Methanex Co. has a one year low of $36.13 and a one year high of $56.43. The company has a market cap of $3.08 billion, a P/E ratio of 21.36 and a beta of 1.40. The business’s 50-day simple moving average is $43.26 and its 200-day simple moving average is $45.01.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.62%. Methanex’s payout ratio is currently 34.58%.

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.