Teton Advisors LLC Decreases Stake in Myers Industries, Inc. $MYE

Teton Advisors LLC decreased its stake in Myers Industries, Inc. (NYSE:MYE) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,000 shares of the industrial products company’s stock after selling 39,000 shares during the period. Myers Industries comprises about 3.5% of Teton Advisors LLC’s holdings, making the stock its largest holding. Teton Advisors LLC’s holdings in Myers Industries were worth $4,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Myers Industries during the third quarter worth $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Myers Industries by 372.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 1,498 shares in the last quarter. Quarry LP acquired a new stake in shares of Myers Industries during the 3rd quarter valued at $48,000. New York State Teachers Retirement System bought a new stake in Myers Industries during the 3rd quarter worth $57,000. Finally, Aquatic Capital Management LLC bought a new stake in Myers Industries during the 3rd quarter worth $61,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

MYE has been the subject of several research reports. Wall Street Zen downgraded Myers Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings cut Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.00.

Myers Industries Price Performance

Shares of NYSE:MYE opened at $22.16 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.29 and a current ratio of 1.65. Myers Industries, Inc. has a 52 week low of $11.86 and a 52 week high of $24.25. The firm has a market cap of $832.14 million, a PE ratio of 31.65 and a beta of 0.96. The firm’s fifty day moving average is $21.41 and its 200-day moving average is $20.23.

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

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 13th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, March 13th. Myers Industries’s dividend payout ratio (DPR) is 77.14%.

Myers Industries 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.