Capital World Investors Acquires Shares of 302,928 Myers Industries, Inc. $MYE

Capital World Investors acquired a new stake in shares of Myers Industries, Inc. (NYSE:MYE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 302,928 shares of the industrial products company’s stock, valued at approximately $5,671,000. Capital World Investors owned approximately 0.81% of Myers Industries at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in Myers Industries by 36.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,904 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 505 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Myers Industries by 5.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,871 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 708 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Myers Industries by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,835 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 936 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Myers Industries by 3.9% in the third quarter. Franklin Resources Inc. now owns 28,708 shares of the industrial products company’s stock valued at $486,000 after acquiring an additional 1,081 shares during the last quarter. Finally, Clearstead Advisors LLC raised its stake in shares of Myers Industries by 56.0% in the fourth quarter. Clearstead Advisors LLC now owns 3,438 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 1,234 shares during the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Myers Industries Stock Performance

NYSE:MYE opened at $25.13 on Thursday. Myers Industries, Inc. has a 1 year low of $12.96 and a 1 year high of $26.20. The firm has a 50 day moving average of $22.17 and a 200-day moving average of $20.96. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $943.88 million, a P/E ratio of 35.90 and a beta of 0.98.

Myers Industries (NYSE:MYE) last posted its earnings results on Thursday, May 7th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Myers Industries had a net margin of 3.36% and a return on equity of 17.23%. The company had revenue of $164.58 million during the quarter, compared to analysts’ expectations of $209.30 million.

Myers Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, June 17th. Myers Industries’s payout ratio is 77.14%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.