Methanex (NASDAQ:MEOH) Sets New 12-Month Low – Time to Sell?

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) hit a new 52-week low during trading on Thursday . The stock traded as low as $35.11 and last traded at $35.85, with a volume of 113358 shares. The stock had previously closed at $35.96.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. CIBC reiterated an “outperform” rating on shares of Methanex in a research note on Monday, February 3rd. UBS Group upped their price objective on Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a report on Friday, February 7th. Scotiabank cut Methanex from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $66.00 to $53.00 in a research report on Monday, March 10th. Finally, Barclays boosted their target price on shares of Methanex from $54.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.63.

Methanex Trading Down 0.5 %

The firm’s fifty day simple moving average is $44.80 and its 200 day simple moving average is $44.21. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The stock has a market capitalization of $2.41 billion, a P/E ratio of 15.49 and a beta of 1.38.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. As a group, equities research analysts forecast that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Monday, March 17th. Methanex’s dividend payout ratio is presently 32.03%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MEOH. Bank of New York Mellon Corp increased its position in Methanex by 4,776.7% during the 4th quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company’s stock worth $44,960,000 after purchasing an additional 881,823 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Methanex during the fourth quarter worth $38,301,000. Norges Bank bought a new position in shares of Methanex in the 4th quarter valued at $34,119,000. Encompass Capital Advisors LLC acquired a new stake in shares of Methanex during the 4th quarter valued at $26,835,000. Finally, Raymond James Financial Inc. bought a new stake in Methanex during the 4th quarter worth $14,327,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

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.