Acadian Asset Management LLC lifted its holdings in Myers Industries, Inc. (NYSE:MYE) by 374.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,889 shares of the industrial products company’s stock after buying an additional 97,803 shares during the period. Acadian Asset Management LLC owned approximately 0.35% of Myers Industries worth $2,879,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new position in Myers Industries during the second quarter worth about $122,000. SG Americas Securities LLC purchased a new position in Myers Industries during the second quarter worth about $150,000. Metropolitan Life Insurance Co. NY raised its stake in Myers Industries by 31.2% during the second quarter. Metropolitan Life Insurance Co. NY now owns 10,364 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 2,462 shares during the period. Hartford Investment Management Co. purchased a new position in Myers Industries during the second quarter worth about $274,000. Finally, MetLife Investment Advisors LLC raised its stake in Myers Industries by 37.6% during the second quarter. MetLife Investment Advisors LLC now owns 14,676 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 4,011 shares during the period. 87.47% of the stock is currently owned by institutional investors.
A number of brokerages have commented on MYE. ValuEngine raised shares of Myers Industries from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. KeyCorp reissued a “sector weight” rating on shares of Myers Industries in a research note on Tuesday, August 28th. Zacks Investment Research downgraded shares of Myers Industries from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 10th. Finally, Cowen assumed coverage on shares of Myers Industries in a research note on Friday, September 28th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Myers Industries currently has a consensus rating of “Hold” and an average price target of $23.50.
Myers Industries stock opened at $16.47 on Friday. The company has a market capitalization of $590.37 million, a PE ratio of 32.29 and a beta of 2.02. Myers Industries, Inc. has a 1 year low of $15.25 and a 1 year high of $25.70. The company has a current ratio of 1.97, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48.
Myers Industries (NYSE:MYE) last released its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. The business had revenue of $135.22 million for the quarter, compared to the consensus estimate of $135.08 million. Myers Industries had a negative net margin of 4.21% and a positive return on equity of 18.40%. The business’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. On average, research analysts forecast that Myers Industries, Inc. will post 0.78 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Friday, December 7th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, December 6th. Myers Industries’s dividend payout ratio (DPR) is 105.88%.
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Myers Industries 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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