Allspring Global Investments Holdings LLC Buys 2,788 Shares of Myers Industries, Inc. (NYSE:MYE)

Allspring Global Investments Holdings LLC lifted its stake in Myers Industries, Inc. (NYSE:MYE) by 0.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,094,425 shares of the industrial products company’s stock after acquiring an additional 2,788 shares during the period. Allspring Global Investments Holdings LLC owned 5.63% of Myers Industries worth $28,945,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. nVerses Capital LLC grew its holdings in Myers Industries by 57.9% during the third quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 1,100 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Myers Industries in the 3rd quarter worth $290,000. Inspire Investing LLC acquired a new position in Myers Industries during the 3rd quarter worth $417,000. SG Americas Securities LLC bought a new stake in Myers Industries during the third quarter valued at about $283,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Myers Industries by 10.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,959 shares of the industrial products company’s stock valued at $200,000 after purchasing an additional 1,357 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, KeyCorp cut their price objective on Myers Industries from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th.

Myers Industries Trading Down 1.2 %

Shares of MYE stock opened at $12.46 on Thursday. The firm has a market capitalization of $463.30 million, a P/E ratio of 11.75 and a beta of 1.21. Myers Industries, Inc. has a 1 year low of $12.21 and a 1 year high of $23.63. The firm’s fifty day simple moving average is $13.81 and its 200 day simple moving average is $15.49. The company has a current ratio of 1.81, a quick ratio of 1.16 and a debt-to-equity ratio of 1.32.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.08. Myers Industries had a net margin of 4.79% and a return on equity of 16.27%. The company had revenue of $220.24 million for the quarter. During the same quarter in the previous year, the firm posted $0.35 EPS. As a group, sell-side analysts predict that Myers Industries, Inc. will post 1.13 EPS for the current year.

Myers Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Friday, September 13th. Myers Industries’s payout ratio is presently 50.94%.

Myers Industries Company Profile

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.