Toronto Dominion Bank Decreases Stock Position in Methanex Co. (NASDAQ:MEOH)

Toronto Dominion Bank reduced its position in Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,116 shares of the specialty chemicals company’s stock after selling 3,703 shares during the quarter. Toronto Dominion Bank’s holdings in Methanex were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. US Bancorp DE raised its stake in shares of Methanex by 35.7% during the 4th quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company’s stock valued at $941,000 after purchasing an additional 4,952 shares during the period. Vanguard Group Inc. raised its stake in shares of Methanex by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company’s stock valued at $105,779,000 after purchasing an additional 37,658 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Methanex by 17.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company’s stock valued at $415,000 after purchasing an additional 1,245 shares during the period. Blue Trust Inc. raised its stake in shares of Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock valued at $142,000 after purchasing an additional 371 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Methanex during the 4th quarter valued at $1,170,000. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Price Performance

Methanex stock opened at $32.87 on Friday. Methanex Co. has a 52 week low of $25.46 and a 52 week high of $54.49. The business has a 50-day simple moving average of $31.84 and a 200 day simple moving average of $41.29. 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 stock has a market cap of $2.22 billion, a price-to-earnings ratio of 14.23 and a beta of 0.93.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The firm had revenue of $857.90 million during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts forecast that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Monday, June 16th. Methanex’s payout ratio is currently 24.83%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MEOH. Royal Bank of Canada decreased their price objective on Methanex from $55.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Scotiabank upgraded Methanex from a “sector perform” rating to a “sector outperform” rating and set a $53.00 price objective on the stock in a research note on Monday, May 5th. Raymond James decreased their price objective on Methanex from $62.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Barclays reduced their target price on Methanex from $57.00 to $41.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Finally, Piper Sandler set a $48.00 target price on Methanex and gave the stock an “overweight” rating in a research report on Sunday, May 18th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Methanex currently has an average rating of “Moderate Buy” and a consensus price target of $48.25.

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.