Semanteon Capital Management LP Makes New $391,000 Investment in Myers Industries, Inc. $MYE

Semanteon Capital Management LP purchased a new stake in Myers Industries, Inc. (NYSE:MYE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,058 shares of the industrial products company’s stock, valued at approximately $391,000.

Several other large investors also recently modified their holdings of MYE. State of Alaska Department of Revenue bought a new position in Myers Industries in the third quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of Myers Industries by 372.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock valued at $28,000 after buying an additional 1,498 shares in the last quarter. Huntington National Bank acquired a new position in Myers Industries during the 2nd quarter valued at about $29,000. New York State Teachers Retirement System bought a new stake in Myers Industries during the 3rd quarter worth approximately $57,000. Finally, Nisa Investment Advisors LLC increased its holdings in Myers Industries by 30.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 861 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Myers Industries Stock Performance

Myers Industries stock opened at $22.59 on Monday. The firm has a fifty day simple moving average of $20.32 and a two-hundred day simple moving average of $18.16. The company has a quick ratio of 1.09, a current ratio of 1.67 and a debt-to-equity ratio of 1.18. Myers Industries, Inc. has a twelve month low of $9.06 and a twelve month high of $23.14. The company has a market capitalization of $845.09 million, a PE ratio of 30.53 and a beta of 1.08.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MYE shares. Wall Street Zen upgraded Myers Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Myers Industries in a research report on Thursday, January 22nd. Finally, Zacks Research raised Myers Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Myers Industries currently has an average rating of “Hold” and a consensus price target of $21.00.

Myers Industries Company Profile

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.