First Trust Advisors LP bought a new stake in Myers Industries, Inc. (NYSE:MYE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 53,470 shares of the industrial products company’s stock, valued at approximately $1,243,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Piedmont Investment Advisors LLC bought a new position in shares of Myers Industries in the 2nd quarter valued at about $122,000. SG Americas Securities LLC bought a new position in shares of Myers Industries in the 2nd quarter valued at about $150,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Myers Industries by 31.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,364 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 2,462 shares during the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of Myers Industries by 37.6% in the 2nd quarter. MetLife Investment Advisors LLC now owns 14,676 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 4,011 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Myers Industries by 28.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the industrial products company’s stock valued at $360,000 after purchasing an additional 3,400 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors.
Several research analysts have recently issued reports on the stock. ValuEngine raised shares of Myers Industries from a “hold” rating to a “buy” rating in a research note on Friday. TheStreet lowered shares of Myers Industries from a “b” rating to a “c-” rating in a research note on Thursday, November 8th. Zacks Investment Research lowered shares of Myers Industries from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 10th. Cowen began coverage on shares of Myers Industries in a research note on Friday, September 28th. They set a “market perform” rating on the stock. Finally, KeyCorp reissued a “sector weight” rating on shares of Myers Industries in a research note on Tuesday, August 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Myers Industries presently has a consensus rating of “Hold” and an average target price of $23.50.
Myers Industries stock opened at $16.23 on Friday. Myers Industries, Inc. has a fifty-two week low of $15.25 and a fifty-two week high of $25.70. The company has a market cap of $569.53 million, a P/E ratio of 31.82 and a beta of 1.98. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.97.
Myers Industries (NYSE:MYE) last released its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. Myers Industries had a negative net margin of 4.21% and a positive return on equity of 18.40%. The business had revenue of $135.22 million for the quarter, compared to analyst estimates of $135.08 million. During the same quarter last year, the firm earned $0.11 EPS. Myers Industries’s quarterly revenue was up .1% compared to the same quarter last year. Analysts expect that Myers Industries, Inc. will post 0.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 7th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Thursday, December 6th. Myers Industries’s payout ratio is 105.88%.
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Myers Industries Company Profile
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
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