Ajo LP Buys Shares of 71,581 Myers Industries Inc. (MYE)
Ajo LP bought a new stake in Myers Industries Inc. (NYSE:MYE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 71,581 shares of the company’s stock, valued at approximately $1,031,000. Ajo LP owned about 0.24% of Myers Industries as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in MYE. Arizona State Retirement System boosted its stake in Myers Industries by 2.7% in the first quarter. Arizona State Retirement System now owns 11,386 shares of the company’s stock valued at $146,000 after buying an additional 300 shares during the period. Spark Investment Management LLC bought a new position in shares of Myers Industries during the first quarter worth about $153,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Myers Industries during the first quarter worth about $281,000. Renaissance Technologies LLC increased its position in shares of Myers Industries by 3.4% in the first quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock worth $431,000 after buying an additional 1,100 shares in the last quarter. Finally, SECOR Capital Advisors LP increased its position in shares of Myers Industries by 250.3% in the second quarter. SECOR Capital Advisors LP now owns 40,799 shares of the company’s stock worth $588,000 after buying an additional 29,152 shares in the last quarter. Institutional investors own 83.62% of the company’s stock.
Shares of Myers Industries Inc. (NYSE:MYE) traded up 0.15% during trading on Wednesday, hitting $13.13. 6,210 shares of the stock were exchanged. Myers Industries Inc. has a 12-month low of $10.12 and a 12-month high of $15.86. The stock has a 50-day moving average of $14.00 and a 200 day moving average of $13.95. The stock has a market cap of $392.52 million, a P/E ratio of 123.87 and a beta of 1.49.
Myers Industries (NYSE:MYE) last released its earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.02. Myers Industries had a net margin of 0.45% and a return on equity of 16.92%. The business had revenue of $144.10 million for the quarter, compared to the consensus estimate of $152.90 million. During the same quarter in the previous year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. Equities analysts predict that Myers Industries Inc. will post $0.56 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.135 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.54 annualized dividend and a yield of 4.12%. Myers Industries’s payout ratio is 600.00%.
Separately, Zacks Investment Research upgraded shares of Myers Industries from a “sell” rating to a “hold” rating in a report on Thursday, August 25th.
In other Myers Industries news, Director Jane Scaccetti bought 2,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was purchased at an average price of $14.64 per share, for a total transaction of $29,280.00. Following the completion of the purchase, the director now directly owns 4,800 shares in the company, valued at $70,272. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.29% of the company’s stock.
About Myers Industries
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling, which designs, manufactures and markets a range of plastic and metal products, and Distribution, which is engaged in the distribution of equipment, tools and supplies used for tire servicing and automotive undervehicle repair and the manufacture of tire repair and retreading products.
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