Oliver Luxxe Assets LLC Invests $1.18 Million in Myers Industries, Inc. $MYE

Oliver Luxxe Assets LLC acquired a new stake in Myers Industries, Inc. (NYSE:MYE) in the 3rd quarter, Holdings Channel reports. The fund acquired 69,518 shares of the industrial products company’s stock, valued at approximately $1,178,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new stake in Myers Industries in the third quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Myers Industries by 372.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock worth $28,000 after buying an additional 1,498 shares in the last quarter. Huntington National Bank bought a new stake in shares of Myers Industries in the 2nd quarter worth $29,000. Nisa Investment Advisors LLC lifted its holdings in shares of Myers Industries by 30.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the industrial products company’s stock valued at $54,000 after buying an additional 861 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Myers Industries by 113.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,508 shares of the industrial products company’s stock valued at $80,000 after buying an additional 2,933 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Insider Buying and Selling at Myers Industries

In other news, Director Helmuth Ludwig bought 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $17.21 per share, with a total value of $86,050.00. Following the purchase, the director directly owned 13,436 shares in the company, valued at $231,233.56. This trade represents a 59.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Samantha Rutty bought 3,000 shares of Myers Industries stock in a transaction dated Friday, November 14th. The stock was acquired at an average price of $17.50 per share, with a total value of $52,500.00. Following the acquisition, the chief financial officer directly owned 3,000 shares of the company’s stock, valued at approximately $52,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 9,000 shares of company stock worth $156,000. Company insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MYE. Wall Street Zen upgraded shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Myers Industries in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Myers Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Myers Industries has an average rating of “Hold” and a consensus target price of $21.00.

Myers Industries Trading Up 0.1%

Shares of MYE opened at $19.61 on Monday. The business’s 50-day moving average price is $18.45 and its 200 day moving average price is $16.90. The company has a current ratio of 1.67, a quick ratio of 1.09 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $733.68 million, a P/E ratio of 26.50 and a beta of 1.09. Myers Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $19.87.

Myers Industries (NYSE:MYE) last announced its earnings results on Thursday, October 30th. The industrial products company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. The company had revenue of $205.44 million during the quarter, compared to analysts’ expectations of $206.40 million. Myers Industries had a net margin of 3.38% and a return on equity of 13.15%. Analysts expect that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Wednesday, December 3rd were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 2.8%. The ex-dividend date was Wednesday, December 3rd. Myers Industries’s payout ratio is presently 72.97%.

About Myers Industries

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.