Dimensional Fund Advisors LP Reduces Stake in Myers Industries, Inc. (NYSE:MYE)

Dimensional Fund Advisors LP decreased its holdings in Myers Industries, Inc. (NYSE:MYE) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,777,000 shares of the industrial products company’s stock after selling 10,791 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.84% of Myers Industries worth $37,227,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Rafferty Asset Management LLC bought a new stake in Myers Industries during the second quarter valued at $5,301,000. Vanguard Group Inc. boosted its position in Myers Industries by 4.9% during the second quarter. Vanguard Group Inc. now owns 1,469,679 shares of the industrial products company’s stock valued at $26,381,000 after acquiring an additional 68,905 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Myers Industries during the second quarter valued at $1,104,000. Hillsdale Investment Management Inc. bought a new stake in Myers Industries during the third quarter valued at $1,175,000. Finally, Northern Trust Corp boosted its position in Myers Industries by 3.9% during the second quarter. Northern Trust Corp now owns 996,343 shares of the industrial products company’s stock valued at $17,885,000 after acquiring an additional 36,983 shares during the last quarter. 85.45% of the stock is currently owned by institutional investors.

A number of analysts have commented on MYE shares. Zacks Investment Research raised shares of Myers Industries from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, November 29th. Wells Fargo & Co raised shares of Myers Industries from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research report on Wednesday, January 3rd. Finally, KeyCorp reaffirmed a “sell” rating and set a $15.00 price target on shares of Myers Industries in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $20.67.

Shares of Myers Industries, Inc. (MYE) traded down $0.45 on Friday, reaching $20.70. 51,893 shares of the company’s stock were exchanged, compared to its average volume of 65,228. Myers Industries, Inc. has a twelve month low of $13.20 and a twelve month high of $22.65. The company has a market capitalization of $630.07, a PE ratio of 90.00, a P/E/G ratio of 10.53 and a beta of 1.84. The company has a quick ratio of 1.06, a current ratio of 1.56 and a debt-to-equity ratio of 1.62.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. Myers Industries had a net margin of 1.24% and a return on equity of 12.93%. The firm had revenue of $144.10 million for the quarter, compared to analyst estimates of $138.93 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. research analysts forecast that Myers Industries, Inc. will post 0.49 EPS for the current fiscal year.

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Myers Industries Profile

Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.

Institutional Ownership by Quarter for Myers Industries (NYSE:MYE)

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