Methanex Co. (NASDAQ:MEOH) Shares Purchased by Bank of Hawaii

Bank of Hawaii grew its holdings in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,470 shares of the specialty chemicals company’s stock after purchasing an additional 465 shares during the period. Bank of Hawaii’s holdings in Methanex were worth $474,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Truist Financial Corp increased its holdings in Methanex by 5.0% in the second quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock valued at $300,000 after buying an additional 294 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Methanex by 3.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 13,978 shares of the specialty chemicals company’s stock worth $622,000 after acquiring an additional 411 shares during the period. Value Partners Investments Inc. increased its stake in Methanex by 10.4% in the 3rd quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock valued at $233,000 after purchasing an additional 532 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in Methanex by 3.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 21,701 shares of the specialty chemicals company’s stock valued at $897,000 after purchasing an additional 707 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Methanex by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 55,978 shares of the specialty chemicals company’s stock worth $2,699,000 after purchasing an additional 887 shares during the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MEOH. Piper Sandler lifted their target price on shares of Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Barclays upped their target price on Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price objective on shares of Methanex in a research report on Tuesday, September 3rd. Finally, UBS Group dropped their price objective on Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Methanex has a consensus rating of “Moderate Buy” and a consensus target price of $55.88.

Methanex Price Performance

MEOH opened at $46.91 on Tuesday. Methanex Co. has a 1 year low of $36.13 and a 1 year high of $56.43. The company’s 50 day simple moving average is $41.67 and its 200 day simple moving average is $45.60. The stock has a market capitalization of $3.16 billion, a PE ratio of 21.92 and a beta of 1.36. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34.

Methanex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.58%. Methanex’s payout ratio is 34.58%.

About Methanex

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.