Alliancebernstein L.P. Has $35.84 Million Stock Holdings in Methanex Co. (NASDAQ:MEOH)

Alliancebernstein L.P. boosted its position in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 717,737 shares of the specialty chemicals company's stock after purchasing an additional 28,623 shares during the quarter. Alliancebernstein L.P. owned about 1.07% of Methanex worth $35,844,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Pictet Asset Management Holding SA raised its holdings in shares of Methanex by 2.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 11,463 shares of the specialty chemicals company's stock worth $573,000 after purchasing an additional 293 shares in the last quarter. Blue Trust Inc. increased its position in shares of Methanex by 15.0% in the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after acquiring an additional 371 shares in the last quarter. PCJ Investment Counsel Ltd. increased its position in shares of Methanex by 3.6% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 11,800 shares of the specialty chemicals company's stock worth $589,000 after acquiring an additional 410 shares in the last quarter. Signaturefd LLC increased its position in shares of Methanex by 15.0% in the fourth quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company's stock worth $172,000 after acquiring an additional 450 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Methanex by 39.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock worth $101,000 after acquiring an additional 573 shares in the last quarter. 73.49% of the stock is currently owned by institutional investors.

Methanex Stock Performance

NASDAQ:MEOH traded down $3.04 during trading hours on Thursday, hitting $27.25. 185,174 shares of the company traded hands, compared to its average volume of 353,174. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.72 and a beta of 1.06. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average of $40.20 and a 200 day moving average of $43.55. Methanex Co. has a twelve month low of $25.46 and a twelve month high of $56.43.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. On average, analysts forecast that Methanex Co. will post 4.32 EPS for the current year.

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.185 per share. The ex-dividend date was Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a yield of 2.72%. Methanex's payout ratio is presently 32.03%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. CIBC dropped their target price on shares of Methanex from $63.00 to $55.00 and set an "outperformer" rating on the stock in a research report on Thursday, April 3rd. Scotiabank cut shares of Methanex from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the company from $66.00 to $53.00 in a research note on Monday, March 10th. Piper Sandler cut shares of Methanex from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $71.00 to $36.00 in a research note on Monday. Barclays reduced their target price on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Finally, UBS Group reduced their target price on shares of Methanex from $66.00 to $53.00 and set a "buy" rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.63.

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.