Hodges Capital Management Inc. Raises Position in Myers Industries, Inc. $MYE

Hodges Capital Management Inc. grew its position in Myers Industries, Inc. (NYSE:MYE) by 276.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 144,050 shares of the industrial products company’s stock after buying an additional 105,750 shares during the period. Hodges Capital Management Inc. owned approximately 0.39% of Myers Industries worth $2,697,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Deutsche Bank AG raised its holdings in Myers Industries by 5.8% in the fourth quarter. Deutsche Bank AG now owns 30,043 shares of the industrial products company’s stock worth $562,000 after buying an additional 1,636 shares during the last quarter. Cerity Partners LLC raised its holdings in Myers Industries by 10.8% in the fourth quarter. Cerity Partners LLC now owns 14,567 shares of the industrial products company’s stock worth $273,000 after buying an additional 1,424 shares during the last quarter. LPL Financial LLC raised its holdings in Myers Industries by 5.4% in the fourth quarter. LPL Financial LLC now owns 21,945 shares of the industrial products company’s stock worth $411,000 after buying an additional 1,133 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Myers Industries in the fourth quarter worth about $1,582,000. Finally, Capital World Investors purchased a new position in Myers Industries in the fourth quarter worth about $5,671,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Stock Performance

Shares of NYSE MYE opened at $25.13 on Thursday. 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 firm has a market capitalization of $943.88 million, a price-to-earnings ratio of 35.90 and a beta of 0.98. Myers Industries, Inc. has a 12-month low of $12.96 and a 12-month high of $26.20.

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

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th will be given a dividend of $0.135 per share. 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 Upgrades and Downgrades

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

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.