Methanex Co. (NASDAQ:MEOH) Short Interest Down 22.2% in April

Methanex Co. (NASDAQ:MEOHGet Free Report) (TSE:MX) saw a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 902,900 shares, a decrease of 22.2% from the April 15th total of 1,160,000 shares. Based on an average trading volume of 326,200 shares, the short-interest ratio is presently 2.8 days. Currently, 1.4% of the company’s stock are sold short.

Methanex Trading Up 0.4 %

Shares of MEOH traded up $0.22 during midday trading on Friday, hitting $50.48. 222,715 shares of the stock were exchanged, compared to its average volume of 322,205. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 1.17. The firm has a market cap of $3.40 billion, a P/E ratio of 21.39 and a beta of 1.47. Methanex has a 52-week low of $38.18 and a 52-week high of $51.42. The stock has a fifty day simple moving average of $46.49 and a 200 day simple moving average of $45.20.

Methanex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, June 14th. Methanex’s payout ratio is 31.36%.

Analyst Upgrades and Downgrades

MEOH has been the subject of several recent research reports. Scotiabank raised their target price on shares of Methanex from $54.00 to $58.00 and gave the stock a “sector outperform” rating in a report on Monday, April 29th. Piper Sandler restated a “neutral” rating and set a $50.00 price target on shares of Methanex in a research report on Thursday, March 7th. Royal Bank of Canada raised their price target on shares of Methanex from $45.00 to $50.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Barclays raised their price target on shares of Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Finally, UBS Group raised their price target on shares of Methanex from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.88.

Get Our Latest Research Report on MEOH

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MEOH. M&G Plc purchased a new position in Methanex in the first quarter worth approximately $589,459,000. FIL Ltd lifted its stake in Methanex by 4.9% in the fourth quarter. FIL Ltd now owns 7,396,173 shares of the specialty chemicals company’s stock worth $349,868,000 after acquiring an additional 346,475 shares during the last quarter. Wellington Management Group LLP lifted its stake in Methanex by 15.2% in the fourth quarter. Wellington Management Group LLP now owns 4,557,093 shares of the specialty chemicals company’s stock worth $216,043,000 after acquiring an additional 599,778 shares during the last quarter. Vanguard Group Inc. raised its holdings in Methanex by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,487,117 shares of the specialty chemicals company’s stock worth $111,000,000 after purchasing an additional 43,178 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. raised its holdings in Methanex by 5.3% during the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,066,683 shares of the specialty chemicals company’s stock worth $47,589,000 after purchasing an additional 53,219 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Company Profile

(Get Free Report)

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.

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