Legacy Wealth Asset Management LLC Makes New $220,000 Investment in Methanex Co. (NASDAQ:MEOH)

Legacy Wealth Asset Management LLC purchased a new position in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,414 shares of the specialty chemicals company’s stock, valued at approximately $220,000.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in shares of Methanex by 38.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 42,003 shares of the specialty chemicals company’s stock valued at $2,027,000 after buying an additional 11,633 shares in the last quarter. Dimensional Fund Advisors LP grew 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 last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Methanex by 26.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,220 shares of the specialty chemicals company’s stock valued at $348,000 after acquiring an additional 1,505 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Methanex by 572.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock worth $93,000 after buying an additional 1,626 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in 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 valued at $55,406,000 after buying an additional 159,542 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Price Performance

NASDAQ MEOH opened at $49.32 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34. The stock has a market capitalization of $3.32 billion, a P/E ratio of 23.05 and a beta of 1.37. Methanex Co. has a 1 year low of $36.13 and a 1 year high of $56.43. The business’s fifty day moving average is $47.09 and its two-hundred day moving average is $44.85.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Tuesday, December 17th. Methanex’s payout ratio is 34.58%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MEOH shares. Raymond James upped their target price on shares of Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Barclays increased their target price on Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a research note on Monday, January 6th. 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.00.

Methanex 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.