Myers Industries, Inc. $MYE Stock Holdings Cut by Pzena Investment Management LLC

Pzena Investment Management LLC cut its position in shares of Myers Industries, Inc. (NYSE:MYE) by 1.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,284,585 shares of the industrial products company’s stock after selling 17,724 shares during the quarter. Pzena Investment Management LLC owned 3.43% of Myers Industries worth $27,208,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in Myers Industries by 372.6% during 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. Kestra Advisory Services LLC acquired a new position in Myers Industries during the fourth quarter worth about $38,000. Quarry LP bought a new stake in Myers Industries in the third quarter worth about $48,000. Aquatic Capital Management LLC bought a new stake in Myers Industries in the third quarter worth about $61,000. Finally, Clearstead Advisors LLC lifted its holdings in Myers Industries by 56.0% in the 4th 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. Institutional investors own 90.82% of the company’s stock.

Myers Industries Trading Down 3.5%

Shares of NYSE MYE opened at $34.07 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 1.04. Myers Industries, Inc. has a 12 month low of $12.96 and a 12 month high of $35.75. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 48.67 and a beta of 0.88. The business has a fifty day simple moving average of $24.46 and a 200-day simple moving average of $22.10.

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

Myers Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th will be issued a dividend of $0.135 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.6%. Myers Industries’s payout ratio is currently 77.14%.

Wall Street Analysts Forecast Growth

MYE has been the topic of several recent research reports. KeyCorp lifted their price objective on shares of Myers Industries to $37.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings lowered shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen cut shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Myers Industries currently has a consensus rating of “Hold” and an average target price of $37.00.

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.