Triasima Portfolio Management inc. Purchases New Holdings in Methanex Co. (NASDAQ:MEOH)

Triasima Portfolio Management inc. purchased a new stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 30,835 shares of the specialty chemicals company’s stock, valued at approximately $1,540,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Methanex in the 3rd quarter valued at about $40,000. Blue Trust Inc. raised its holdings in Methanex by 56.8% in the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 896 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Methanex in the 2nd quarter valued at about $201,000. Legacy Wealth Asset Management LLC acquired a new stake in Methanex in the 4th quarter valued at about $220,000. Finally, Truist Financial Corp raised its holdings in Methanex by 5.0% in the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock valued at $300,000 after acquiring an additional 294 shares during the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on MEOH shares. CIBC increased their price objective on shares of Methanex from $59.00 to $63.00 and gave the company an “outperformer” rating in a report on Monday. UBS Group cut their price objective on shares of Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, November 7th. StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Scotiabank raised their price target on shares of Methanex from $60.00 to $66.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 30th. Finally, Barclays raised their price target on shares of Methanex from $46.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.25.

Methanex Stock Performance

Shares of MEOH stock opened at $50.96 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. Methanex Co. has a 52 week low of $36.13 and a 52 week high of $56.43. The stock has a market capitalization of $3.43 billion, a PE ratio of 22.06 and a beta of 1.36. The firm has a 50 day moving average of $48.81 and a two-hundred day moving average of $44.95.

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, topping the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. On average, research analysts predict that Methanex Co. will post 4.02 EPS for the current fiscal year.

Methanex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.74 annualized dividend and a dividend yield of 1.45%. Methanex’s dividend payout ratio (DPR) is currently 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.