Wells Fargo & Company MN boosted its position in shares of Myers Industries, Inc. (NYSE:MYE) by 8.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,863 shares of the industrial products company’s stock after purchasing an additional 3,882 shares during the period. Wells Fargo & Company MN owned approximately 0.15% of Myers Industries worth $1,206,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of MYE. SG Americas Securities LLC purchased a new stake in shares of Myers Industries in the 2nd quarter valued at approximately $150,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Myers Industries by 31.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,364 shares of the industrial products company’s stock valued at $199,000 after acquiring an additional 2,462 shares during the period. MetLife Investment Advisors LLC raised its stake in shares of Myers Industries by 37.6% in the 2nd quarter. MetLife Investment Advisors LLC now owns 14,676 shares of the industrial products company’s stock valued at $282,000 after acquiring an additional 4,011 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Myers Industries by 28.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the industrial products company’s stock valued at $360,000 after acquiring an additional 3,400 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Myers Industries in the 2nd quarter valued at approximately $362,000. 88.33% of the stock is currently owned by institutional investors.
Shares of MYE opened at $15.94 on Friday. Myers Industries, Inc. has a fifty-two week low of $14.24 and a fifty-two week high of $25.70. The company has a market cap of $549.38 million, a P/E ratio of 31.25 and a beta of 1.79. The company has a current ratio of 1.97, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48.
Myers Industries (NYSE:MYE) last announced its earnings results on Tuesday, November 6th. The industrial products company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. Myers Industries had a negative net margin of 4.21% and a positive return on equity of 18.40%. The firm had revenue of $135.22 million for the quarter, compared to the consensus estimate of $135.08 million. During the same period in the prior year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts forecast that Myers Industries, Inc. will post 0.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 3rd. Shareholders of record on Friday, December 7th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, December 6th. Myers Industries’s dividend payout ratio (DPR) is presently 105.88%.
MYE has been the topic of a number of research analyst reports. ValuEngine raised shares of Myers Industries from a “hold” rating to a “buy” rating in a research note on Friday, December 7th. TheStreet downgraded shares of Myers Industries from a “b” rating to a “c-” rating in a research note on Thursday, November 8th. Cowen initiated coverage on shares of Myers Industries in a research note on Friday, September 28th. They issued a “market perform” rating on the stock. Finally, Zacks Investment Research raised shares of Myers Industries from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, Myers Industries presently has an average rating of “Hold” and an average target price of $23.33.
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Myers Industries Company Profile
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
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