Westbourne Investment Advisors Inc. Raises Position in Methanex Co. (NASDAQ:MEOH)

Westbourne Investment Advisors Inc. boosted its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 6.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 117,981 shares of the specialty chemicals company’s stock after purchasing an additional 7,375 shares during the period. Methanex comprises about 2.0% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 19th biggest holding. Westbourne Investment Advisors Inc.’s holdings in Methanex were worth $5,892,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Squarepoint Ops LLC bought a new position in Methanex in the 2nd quarter worth approximately $201,000. Truist Financial Corp boosted its holdings in shares of 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 acquiring an additional 294 shares during the period. Dixon Mitchell Investment Counsel Inc. grew its position in shares of Methanex by 9.9% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,182,168 shares of the specialty chemicals company’s stock valued at $49,022,000 after purchasing an additional 106,848 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Methanex by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 896 shares during the period. Finally, Pinnacle Associates Ltd. lifted its holdings in Methanex by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 21,701 shares of the specialty chemicals company’s stock worth $897,000 after purchasing an additional 707 shares in the last quarter. 73.49% of the stock is owned by institutional investors.

Methanex Trading Down 0.6 %

NASDAQ MEOH opened at $50.66 on Friday. The stock’s 50-day simple moving average is $48.90 and its two-hundred day simple moving average is $44.99. Methanex Co. has a twelve month low of $36.13 and a twelve month high of $56.43. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 21.93 and a beta of 1.36.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results 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 return on equity of 10.97% and a net margin of 4.41%. Research analysts forecast that Methanex Co. will post 4.2 EPS for the current fiscal year.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, March 17th. Methanex’s dividend payout ratio is currently 32.03%.

Wall Street Analysts Forecast Growth

MEOH has been the subject of a number of recent analyst reports. UBS Group lifted their target price on Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a report on Friday. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. CIBC upped their price target on shares of Methanex from $59.00 to $63.00 and gave the stock an “outperformer” rating in a report on Monday, February 3rd. Finally, Piper Sandler lifted their price objective on Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

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.