Hodges Capital Management Inc. Makes New $649,000 Investment in Myers Industries, Inc. $MYE

Hodges Capital Management Inc. bought a new stake in Myers Industries, Inc. (NYSE:MYE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 38,300 shares of the industrial products company’s stock, valued at approximately $649,000. Hodges Capital Management Inc. owned approximately 0.10% of Myers Industries at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in Myers Industries in the 3rd quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of Myers Industries by 372.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock worth $28,000 after buying an additional 1,498 shares in the last quarter. Huntington National Bank acquired a new position in Myers Industries during the second quarter worth about $29,000. Nisa Investment Advisors LLC grew its stake in Myers Industries by 30.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 861 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in Myers Industries in the 3rd quarter valued at about $57,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MYE shares. Zacks Research upgraded Myers Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Myers Industries in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised Myers Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Myers Industries has an average rating of “Hold” and a consensus target price of $21.00.

Myers Industries Stock Performance

Shares of Myers Industries stock opened at $22.69 on Thursday. The firm has a market cap of $848.98 million, a PE ratio of 30.67 and a beta of 1.08. The company has a quick ratio of 1.09, a current ratio of 1.67 and a debt-to-equity ratio of 1.18. Myers Industries, Inc. has a 52 week low of $9.06 and a 52 week high of $23.14. The business’s fifty day simple moving average is $20.20 and its 200-day simple moving average is $18.05.

Myers Industries 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.