7,298 Shares in Methanex Co. (NASDAQ:MEOH) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,298 shares of the specialty chemicals company’s stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Toronto Dominion Bank increased its stake in shares of Methanex by 19.6% during the second quarter. Toronto Dominion Bank now owns 33,229 shares of the specialty chemicals company’s stock valued at $1,604,000 after buying an additional 5,451 shares during the period. Point72 Asset Management L.P. increased its position in Methanex by 1,495.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company’s stock valued at $5,739,000 after purchasing an additional 130,127 shares during the period. Millennium Management LLC raised its holdings in shares of Methanex by 13.0% in the 2nd quarter. Millennium Management LLC now owns 508,730 shares of the specialty chemicals company’s stock valued at $24,551,000 after purchasing an additional 58,719 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Methanex in the 2nd quarter worth approximately $201,000. Finally, Truist Financial Corp boosted its stake in shares of Methanex by 5.0% during the second quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock valued at $300,000 after purchasing an additional 294 shares in the last quarter. 73.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler boosted their price objective 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. UBS Group decreased their price objective on Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research note on Tuesday, September 3rd. Barclays increased their price target on shares of Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, CIBC reaffirmed an “outperformer” rating and issued a $59.00 price objective (up previously from $48.00) on shares of Methanex in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.25.

Methanex Trading Up 2.3 %

NASDAQ MEOH opened at $47.12 on Wednesday. The stock has a market cap of $3.18 billion, a P/E ratio of 22.02 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. Methanex Co. has a 12-month low of $36.13 and a 12-month high of $56.43. The company has a fifty day simple moving average of $43.37 and a two-hundred day simple moving average of $44.91.

Methanex Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, December 17th. Methanex’s payout ratio is 34.58%.

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.