OppenheimerFunds Inc. Increases Position in Myers Industries, Inc. (NYSE:MYE)
OppenheimerFunds Inc. increased its stake in Myers Industries, Inc. (NYSE:MYE) by 22.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,671 shares of the industrial products company’s stock after buying an additional 5,438 shares during the period. OppenheimerFunds Inc.’s holdings in Myers Industries were worth $471,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Hartford Investment Management Co. bought a new stake in Myers Industries during the first quarter valued at $167,000. Arizona State Retirement System increased its stake in Myers Industries by 0.9% in the first quarter. Arizona State Retirement System now owns 11,386 shares of the industrial products company’s stock valued at $180,000 after buying an additional 100 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in Myers Industries during the first quarter valued at $187,000. Sei Investments Co. bought a new stake in Myers Industries during the first quarter valued at $194,000. Finally, GSA Capital Partners LLP increased its stake in Myers Industries by 3.9% in the fourth quarter. GSA Capital Partners LLP now owns 21,500 shares of the industrial products company’s stock valued at $307,000 after buying an additional 800 shares during the last quarter. Institutional investors own 84.52% of the company’s stock.
Shares of Myers Industries, Inc. (MYE) opened at 18.20 on Monday. The company has a 50 day moving average price of $17.74 and a 200 day moving average price of $15.56. Myers Industries, Inc. has a 1-year low of $11.35 and a 1-year high of $19.45. The stock has a market cap of $547.44 million, a P/E ratio of 74.59 and a beta of 1.77.
Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Monday, May 8th. The industrial products company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The company had revenue of $141.70 million during the quarter, compared to the consensus estimate of $143.60 million. Myers Industries had a net margin of 1.38% and a return on equity of 11.57%. Myers Industries’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. On average, equities analysts anticipate that Myers Industries, Inc. will post $0.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Friday, June 16th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Wednesday, June 14th. Myers Industries’s dividend payout ratio (DPR) is 225.00%.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded Myers Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. TheStreet upgraded Myers Industries from a “c” rating to a “b-” rating in a research note on Monday, May 8th.
In other Myers Industries news, Director Jane Scaccetti purchased 3,000 shares of Myers Industries stock in a transaction dated Monday, May 15th. The shares were acquired at an average cost of $17.20 per share, with a total value of $51,600.00. Following the completion of the transaction, the director now owns 12,090 shares in the company, valued at approximately $207,948. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.75% 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 and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.
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