Scheer Rowlett & Associates Investment Management Ltd. Boosts Position in Methanex Co. (NASDAQ:MEOH)

Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,069 shares of the specialty chemicals company’s stock after buying an additional 5,947 shares during the period. Methanex makes up 1.6% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, making the stock its 22nd biggest position. Scheer Rowlett & Associates Investment Management Ltd. owned 0.65% of Methanex worth $21,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MEOH. Wilmington Savings Fund Society FSB acquired a new stake in shares of Methanex during the third quarter worth $40,000. Parkside Financial Bank & Trust lifted its holdings in Methanex by 39.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock valued at $101,000 after acquiring an additional 573 shares during the last quarter. Blue Trust Inc. boosted its holdings in Methanex by 15.0% during the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock worth $142,000 after buying an additional 371 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Methanex in the 4th quarter worth $166,000. Finally, Legacy Wealth Asset Management LLC acquired a new stake in shares of Methanex during the fourth quarter valued at approximately $220,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Stock Up 1.3 %

NASDAQ MEOH opened at $42.25 on Friday. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 18.29 and a beta of 1.38. Methanex Co. has a 1-year low of $36.13 and a 1-year high of $56.43. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $47.96 and a 200-day moving average of $44.94.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. On average, equities research analysts expect that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.185 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.74 annualized dividend and a dividend yield of 1.75%. Methanex’s payout ratio is 32.03%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MEOH shares. StockNews.com upgraded Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Raymond James lifted their target price on Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. CIBC reissued an “outperform” rating on shares of Methanex in a report on Monday, February 3rd. Finally, Piper Sandler increased their target price on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Methanex currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.25.

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.