Methanex Co. (NASDAQ:MEOH) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,836,661 shares of the specialty chemicals company's stock after acquiring an additional 62,467 shares during the period. Wellington Management Group LLP owned approximately 7.18% of Methanex worth $241,549,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MEOH. US Bancorp DE increased its holdings in shares of Methanex by 35.7% in the fourth quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company's stock valued at $941,000 after purchasing an additional 4,952 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Methanex by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company's stock worth $4,340,000 after acquiring an additional 1,203 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Methanex by 17.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company's stock valued at $415,000 after acquiring an additional 1,245 shares during the last quarter. Barclays PLC grew its holdings in shares of Methanex by 64.9% in the third quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company's stock valued at $845,000 after purchasing an additional 8,047 shares during the period. Finally, Blue Trust Inc. increased its position in Methanex by 15.0% during the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after purchasing an additional 371 shares during the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Trading Down 7.6 %

MEOH traded down $2.36 during mid-day trading on Friday, hitting $28.72. 1,902,380 shares of the stock were exchanged, compared to its average volume of 345,427. The firm's fifty day moving average is $42.47 and its two-hundred day moving average is $44.02. Methanex Co. has a 1-year low of $27.35 and a 1-year high of $56.43. The company has a market cap of $1.94 billion, a PE ratio of 12.43 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.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, topping 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%. Equities analysts forecast that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, March 17th. Methanex's dividend payout ratio is presently 32.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MEOH shares. Raymond James boosted their target price on shares of Methanex from $54.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, January 14th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $55.00 price objective on shares of Methanex in a report on Tuesday, April 1st. UBS Group raised their target price on Methanex from $53.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Barclays decreased their price target on Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Finally, CIBC cut their price objective on Methanex from $63.00 to $55.00 and set an "outperformer" rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Methanex currently has a consensus rating of "Moderate Buy" and an average target price of $57.63.

About Methanex

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.