Methanex (NASDAQ:MEOH) Stock Crosses Above 200 Day Moving Average of $45.09

Methanex Co. (NASDAQ:MEOH) (TSE:MX)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.09 and traded as high as $49.57. Methanex shares last traded at $48.40, with a volume of 337,266 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MEOH. Scotiabank boosted their price target on Methanex from $54.00 to $58.00 and gave the stock a “sector outperform” rating in a report on Monday, April 29th. 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 note on Friday, April 26th. UBS Group boosted their price objective on shares of Methanex from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. TheStreet raised Methanex from a “c” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, Barclays lifted their target price on Methanex from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.88.

Methanex Stock Performance

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 stock has a fifty day simple moving average of $46.26 and a two-hundred day simple moving average of $45.09. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 20.51 and a beta of 1.47.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.74 dividend on an annualized basis and a yield of 1.53%. Methanex’s payout ratio is currently 31.36%.

Institutional Trading of Methanex

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its holdings in Methanex by 5.3% during the 1st quarter. Russell Investments Group Ltd. now owns 108,995 shares of the specialty chemicals company’s stock worth $4,863,000 after acquiring an additional 5,438 shares during the period. Headlands Technologies LLC grew its stake in shares of Methanex by 346.5% in the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 700 shares during the period. Swiss National Bank grew its stake in shares of Methanex by 0.6% in the 1st quarter. Swiss National Bank now owns 127,500 shares of the specialty chemicals company’s stock valued at $5,681,000 after buying an additional 700 shares during the period. Duality Advisers LP acquired a new stake in shares of Methanex in the 1st quarter valued at about $779,000. Finally, Larson Financial Group LLC acquired a new stake in shares of Methanex in the 1st quarter valued at about $45,000. 73.49% of the stock is currently owned by institutional investors and hedge funds.

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.