Boston Partners Sells 134,586 Shares of Methanex Co. (MEOH)
Boston Partners lessened its holdings in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,685,153 shares of the specialty chemicals company’s stock after selling 134,586 shares during the quarter. Boston Partners’ holdings in Methanex were worth $223,136,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. FineMark National Bank & Trust bought a new stake in Methanex during the 4th quarter valued at $253,000. ETRADE Capital Management LLC bought a new stake in Methanex during the 3rd quarter valued at $241,000. FNY Partners Fund LP bought a new stake in Methanex during the 4th quarter valued at $302,000. AHL Partners LLP purchased a new position in Methanex during the 2nd quarter worth $300,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Methanex by 3.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock worth $305,000 after acquiring an additional 259 shares during the last quarter. Institutional investors and hedge funds own 84.52% of the company’s stock.
Methanex Co. (MEOH) opened at $59.85 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.66 and a debt-to-equity ratio of 0.83. The firm has a market cap of $5,273.36, a PE ratio of 16.91, a P/E/G ratio of 0.81 and a beta of 1.73. Methanex Co. has a fifty-two week low of $39.47 and a fifty-two week high of $64.60.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 31st. Investors of record on Saturday, March 17th will be issued a $0.33 dividend. This is an increase from Methanex’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, March 15th. Methanex’s payout ratio is 33.90%.
MEOH has been the topic of a number of analyst reports. Cowen reaffirmed an “outperform” rating and set a $58.00 price objective (up from $55.00) on shares of Methanex in a report on Monday, October 9th. UBS Group lifted their price objective on shares of Methanex from $42.00 to $44.00 and gave the stock a “sell” rating in a report on Friday, October 13th. Scotiabank set a $53.50 price objective on shares of Methanex and gave the stock a “sector perform” rating in a report on Wednesday, October 18th. Jefferies Group reaffirmed a “buy” rating and set a $60.00 price objective on shares of Methanex in a report on Thursday, October 19th. Finally, TD Securities lifted their price objective on shares of Methanex from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $59.00.
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Methanex Corp is a Canada-based 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, as well as 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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