Myers Industries, Inc. $MYE Shares Acquired by EVR Research LP

EVR Research LP increased its position in shares of Myers Industries, Inc. (NYSE:MYE) by 80.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,000 shares of the industrial products company’s stock after purchasing an additional 80,000 shares during the period. Myers Industries accounts for approximately 1.8% of EVR Research LP’s portfolio, making the stock its 17th largest position. EVR Research LP owned 0.48% of Myers Industries worth $3,049,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new stake in Myers Industries in the third quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Myers Industries by 372.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 1,498 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of Myers Industries in the 3rd quarter valued at about $57,000. Quantbot Technologies LP purchased a new position in shares of Myers Industries in the 3rd quarter valued at about $72,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Myers Industries by 113.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,508 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 2,933 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Down 0.8%

Shares of NYSE MYE opened at $21.09 on Friday. The business has a 50-day moving average price of $21.11 and a 200 day moving average price of $18.70. The stock has a market cap of $788.65 million, a PE ratio of 22.67 and a beta of 1.06. The company has a quick ratio of 1.16, a current ratio of 1.67 and a debt-to-equity ratio of 1.08. Myers Industries, Inc. has a 52-week low of $9.06 and a 52-week high of $24.03.

Myers Industries (NYSE:MYE) last released its quarterly earnings results on Thursday, March 5th. The industrial products company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.23 by $0.08. The company had revenue of $203.97 million for the quarter, compared to analyst estimates of $202.60 million. Myers Industries had a return on equity of 14.46% and a net margin of 4.23%. Equities research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 13th will be paid a dividend of $0.135 per share. The ex-dividend date is Friday, March 13th. This represents a $0.54 dividend on an annualized basis and a yield of 2.6%. Myers Industries’s dividend payout ratio is currently 58.06%.

Wall Street Analyst Weigh In

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

Myers Industries Company 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.