Methanex (MEOH) Sets New 12-Month Low at $52.24
Methanex Co. (NASDAQ:MEOH) (TSE:MX)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $52.24 and last traded at $53.00, with a volume of 27463 shares traded. The stock had previously closed at $55.38.
A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Methanex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded Methanex from a “sell” rating to a “strong sell” rating in a research report on Friday, November 30th. ValuEngine downgraded Methanex from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Raymond James reduced their target price on Methanex from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 28th. Finally, Royal Bank of Canada reduced their target price on Methanex from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. Methanex currently has an average rating of “Hold” and an average price target of $81.07.
The company has a quick ratio of 1.27, a current ratio of 1.70 and a debt-to-equity ratio of 0.82. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 0.56 and a beta of 1.58.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.46%. Methanex’s payout ratio is presently 28.03%.
Several hedge funds and other institutional investors have recently modified their holdings of MEOH. Canada Pension Plan Investment Board grew its stake in shares of Methanex by 60.1% in the second quarter. Canada Pension Plan Investment Board now owns 601,759 shares of the specialty chemicals company’s stock valued at $42,525,000 after buying an additional 226,000 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Methanex by 173.8% in the second quarter. Janus Henderson Group PLC now owns 350,291 shares of the specialty chemicals company’s stock valued at $24,753,000 after buying an additional 222,338 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Methanex by 9.0% in the third quarter. AQR Capital Management LLC now owns 2,441,352 shares of the specialty chemicals company’s stock valued at $192,573,000 after buying an additional 200,663 shares in the last quarter. Strs Ohio acquired a new stake in shares of Methanex in the second quarter valued at $13,345,000. Finally, Renaissance Technologies LLC grew its stake in shares of Methanex by 113.0% in the third quarter. Renaissance Technologies LLC now owns 246,598 shares of the specialty chemicals company’s stock valued at $19,506,000 after buying an additional 130,800 shares in the last quarter. 71.15% of the stock is owned by institutional investors and hedge funds.
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Methanex Company Profile (NASDAQ:MEOH)
Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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