Westbourne Investment Advisors Inc. Buys 1,789 Shares of Methanex Co. (NASDAQ:MEOH)

Westbourne Investment Advisors Inc. lifted its stake in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 1.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 110,606 shares of the specialty chemicals company’s stock after buying an additional 1,789 shares during the quarter. Methanex makes up about 1.6% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 27th biggest holding. Westbourne Investment Advisors Inc.’s holdings in Methanex were worth $4,572,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of Methanex by 0.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 39,649 shares of the specialty chemicals company’s stock worth $1,769,000 after acquiring an additional 229 shares in the last quarter. Truist Financial Corp boosted its stake in Methanex by 5.0% in the second quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock worth $300,000 after purchasing an additional 294 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Methanex by 3.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 13,978 shares of the specialty chemicals company’s stock worth $622,000 after purchasing an additional 411 shares during the last quarter. Value Partners Investments Inc. increased its stake in shares of Methanex by 10.4% in the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock valued at $233,000 after buying an additional 532 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Methanex by 0.6% in the first quarter. Swiss National Bank now owns 127,500 shares of the specialty chemicals company’s stock worth $5,681,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MEOH shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a report on Tuesday, September 3rd. UBS Group lowered their target price on Methanex from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Scotiabank upped their price target on Methanex from $58.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 10th. Barclays lowered Methanex from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $56.00 to $44.00 in a research report on Tuesday, September 10th. Finally, Raymond James cut their target price on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Methanex presently has an average rating of “Moderate Buy” and an average price target of $55.38.

Methanex Trading Down 0.2 %

NASDAQ:MEOH traded down $0.08 during mid-day trading on Friday, hitting $39.09. The company had a trading volume of 194,202 shares, compared to its average volume of 257,214. The firm has a market cap of $2.63 billion, a P/E ratio of 18.18 and a beta of 1.36. Methanex Co. has a fifty-two week low of $36.13 and a fifty-two week high of $56.43. The business’s fifty day moving average is $41.57 and its two-hundred day moving average is $46.23. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.87 and a current ratio of 1.25.

Methanex 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.