Insider Buying: Methanex Co. (TSE:MX) Director Purchases 2,000 Shares of Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) Director Mark Allard purchased 2,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of C$43.65 per share, with a total value of C$87,300.00. Following the completion of the transaction, the director now owns 9,081 shares of the company’s stock, valued at approximately C$396,385.65.

Shares of MX stock traded down C$0.92 during mid-day trading on Monday, hitting C$43.21. 284,685 shares of the stock traded hands, compared to its average volume of 279,290. The stock has a market capitalization of $3.43 billion and a PE ratio of 9.26. The stock’s fifty day moving average price is C$53.83. Methanex Co. has a 52-week low of C$42.54 and a 52-week high of C$107.07. The company has a debt-to-equity ratio of 117.53, a quick ratio of 0.70 and a current ratio of 1.08.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.471 per share. This represents a $1.88 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Friday, September 13th. Methanex’s payout ratio is 40.30%.

Separately, BMO Capital Markets decreased their price target on shares of Methanex from C$70.00 to C$65.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd.

About Methanex

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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