243,183 Shares in Myers Industries, Inc. $MYE Acquired by Simcoe Capital Management LLC

Simcoe Capital Management LLC bought a new stake in Myers Industries, Inc. (NYSE:MYE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 243,183 shares of the industrial products company’s stock, valued at approximately $4,120,000. Myers Industries accounts for approximately 0.6% of Simcoe Capital Management LLC’s holdings, making the stock its 17th biggest position. Simcoe Capital Management LLC owned about 0.65% of Myers Industries at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners boosted its holdings in Myers Industries by 8.6% in the 3rd quarter. Boston Partners now owns 193,334 shares of the industrial products company’s stock worth $3,275,000 after buying an additional 15,360 shares during the period. EVR Research LP boosted its position in shares of Myers Industries by 80.0% during the 3rd quarter. EVR Research LP now owns 180,000 shares of the industrial products company’s stock valued at $3,049,000 after acquiring an additional 80,000 shares during the last quarter. Advisory Research Inc. grew its stake in Myers Industries by 476.4% in the 3rd quarter. Advisory Research Inc. now owns 706,080 shares of the industrial products company’s stock worth $11,961,000 after buying an additional 583,585 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Myers Industries by 7.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 552,818 shares of the industrial products company’s stock worth $9,365,000 after acquiring an additional 40,617 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Myers Industries by 4.6% in the 3rd quarter. Sei Investments Co. now owns 84,068 shares of the industrial products company’s stock worth $1,424,000 after purchasing an additional 3,664 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Performance

Shares of MYE opened at $20.67 on Friday. The company has a 50-day simple moving average of $21.15 and a two-hundred day simple moving average of $18.72. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.67 and a quick ratio of 1.16. The firm has a market capitalization of $773.06 million, a PE ratio of 22.23 and a beta of 1.06. Myers Industries, Inc. has a one year low of $9.06 and a one year high of $24.03.

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

Myers Industries Announces Dividend

The company 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 $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, March 13th. Myers Industries’s dividend payout ratio is presently 58.06%.

Wall Street Analyst Weigh In

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

About Myers Industries

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.