First Trust Advisors LP grew its position in shares of Myers Industries, Inc. (NYSE:MYE) by 25.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,520 shares of the industrial products company’s stock after purchasing an additional 16,309 shares during the period. First Trust Advisors LP owned approximately 0.23% of Myers Industries worth $1,421,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in Myers Industries by 24.2% during the second quarter. Renaissance Technologies LLC now owns 1,136,200 shares of the industrial products company’s stock valued at $21,895,000 after purchasing an additional 221,700 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Myers Industries during the 2nd quarter valued at about $2,607,000. Morgan Stanley lifted its position in Myers Industries by 85.1% in the 2nd quarter. Morgan Stanley now owns 238,602 shares of the industrial products company’s stock worth $4,599,000 after buying an additional 109,730 shares during the last quarter. BlackRock Inc. lifted its position in Myers Industries by 1.9% in the 2nd quarter. BlackRock Inc. now owns 5,270,150 shares of the industrial products company’s stock worth $101,556,000 after buying an additional 98,876 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Myers Industries by 3.0% in the second quarter. Vanguard Group Inc. now owns 2,380,273 shares of the industrial products company’s stock worth $45,868,000 after buying an additional 70,133 shares in the last quarter. 87.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE MYE opened at $16.78 on Friday. The stock has a market capitalization of $596.03 million, a P/E ratio of 22.08 and a beta of 1.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.10 and a quick ratio of 1.61. The company’s 50-day moving average is $16.56 and its 200 day moving average is $17.14. Myers Industries, Inc. has a 1 year low of $14.24 and a 1 year high of $19.55.
Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Myers Industries had a return on equity of 17.53% and a net margin of 3.90%. The business had revenue of $125.48 million during the quarter, compared to analyst estimates of $134.90 million. During the same quarter last year, the firm posted $0.15 earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Research analysts anticipate that Myers Industries, Inc. will post 0.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.135 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.54 dividend on an annualized basis and a yield of 3.22%. Myers Industries’s dividend payout ratio is currently 71.05%.
In other news, Director Ronald M. Defeo bought 10,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $16.25 per share, for a total transaction of $162,500.00. Following the completion of the purchase, the director now owns 11,570 shares in the company, valued at approximately $188,012.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.84% of the stock is currently owned by insiders.
Several equities analysts recently commented on MYE shares. ValuEngine raised shares of Myers Industries from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Cowen raised shares of Myers Industries from a “market perform” rating to an “outperform” rating and increased their price target for the company from $20.00 to $22.00 in a research report on Tuesday, August 27th. Finally, Zacks Investment Research lowered Myers Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 18th.
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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