Dixon Mitchell Investment Counsel Inc. Sells 1,233 Shares of Methanex Co. (NASDAQ:MEOH)

Dixon Mitchell Investment Counsel Inc. lessened its position in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,180,935 shares of the specialty chemicals company’s stock after selling 1,233 shares during the period. Methanex comprises approximately 2.7% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 13th biggest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in Methanex were worth $58,990,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of Methanex by 16.3% during the second quarter. Bank of Montreal Can now owns 1,136,436 shares of the specialty chemicals company’s stock worth $55,406,000 after buying an additional 159,542 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Methanex by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,262 shares of the specialty chemicals company’s stock valued at $45,570,000 after purchasing an additional 30,887 shares during the period. Mackenzie Financial Corp raised its holdings in Methanex by 3.4% during the 2nd quarter. Mackenzie Financial Corp now owns 726,546 shares of the specialty chemicals company’s stock worth $35,082,000 after purchasing an additional 23,747 shares during the last quarter. Millennium Management LLC lifted its position in shares of Methanex by 13.0% in the 2nd quarter. Millennium Management LLC now owns 508,730 shares of the specialty chemicals company’s stock worth $24,551,000 after purchasing an additional 58,719 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Methanex by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,102 shares of the specialty chemicals company’s stock valued at $8,483,000 after purchasing an additional 8,850 shares during the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MEOH. 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 target on shares of Methanex in a report on Monday, January 6th. Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. UBS Group reduced their price target on shares of Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Barclays increased their price objective on Methanex from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Methanex Trading Down 0.9 %

NASDAQ MEOH opened at $49.76 on Thursday. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 23.25 and a beta of 1.37. The business’s fifty day moving average is $46.57 and its 200-day moving average is $44.79. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. Methanex Co. has a one year low of $36.13 and a one year high of $56.43.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, December 17th. Methanex’s payout ratio is 34.58%.

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.