Methanex Corp. (NASDAQ:MEOH)’s share price was down 3.1% during trading on Tuesday . The stock traded as low as $28.39 and last traded at $28.47, with a volume of 296,525 shares changing hands. The stock had previously closed at $29.39.

Several equities analysts recently commented on MEOH shares. Raymond James Financial Inc. upgraded Methanex Corp. from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, May 17th. CIBC upgraded Methanex Corp. from a “sector perform” rating to an “outperform” rating and set a $37.00 target price for the company in a research note on Tuesday, July 5th. Jefferies Group reiterated a “buy” rating on shares of Methanex Corp. in a research note on Wednesday, July 6th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $48.50 target price on shares of Methanex Corp. in a research note on Monday, June 6th. Finally, Zacks Investment Research lowered Methanex Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 28th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $43.45.

The company has a market capitalization of $2.55 billion and a P/E ratio of 16.99. The firm has a 50 day moving average of $30.57 and a 200 day moving average of $30.67.

Methanex Corp. (NASDAQ:MEOH) last released its quarterly earnings results on Wednesday, April 27th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. On average, analysts expect that Methanex Corp. will post ($0.09) EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Wednesday, September 14th.

Several institutional investors have added to or reduced their stakes in MEOH. Sei Investments Co. increased its position in Methanex Corp. by 10,026.0% in the fourth quarter. Sei Investments Co. now owns 50,630 shares of the company’s stock valued at $1,671,000 after buying an additional 50,130 shares during the last quarter. Bank of Montreal Can increased its position in Methanex Corp. by 1.7% in the fourth quarter. Bank of Montreal Can now owns 93,107 shares of the company’s stock valued at $3,075,000 after buying an additional 1,524 shares during the last quarter. Nationwide Fund Advisors increased its position in Methanex Corp. by 31.7% in the fourth quarter. Nationwide Fund Advisors now owns 112,123 shares of the company’s stock valued at $3,701,000 after buying an additional 27,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Methanex Corp. by 12.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 135,650 shares of the company’s stock valued at $4,478,000 after buying an additional 15,028 shares during the last quarter. Finally, Todd Asset Management LLC increased its position in Methanex Corp. by 43.8% in the fourth quarter. Todd Asset Management LLC now owns 223,399 shares of the company’s stock valued at $7,375,000 after buying an additional 68,045 shares during the last quarter.

Methanex Corporation is a producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

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