Hodges Capital Management Inc. Acquires 105,750 Shares of Myers Industries, Inc. $MYE

Hodges Capital Management Inc. boosted its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 276.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 144,050 shares of the industrial products company’s stock after buying an additional 105,750 shares during the quarter. Hodges Capital Management Inc.’s holdings in Myers Industries were worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Myers Industries by 372.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 1,498 shares in the last quarter. Quarry LP purchased a new position in Myers Industries during the third quarter valued at approximately $48,000. Clearstead Advisors LLC lifted its holdings in Myers Industries by 56.0% during the fourth quarter. Clearstead Advisors LLC now owns 3,438 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 1,234 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Myers Industries during the third quarter valued at approximately $61,000. Finally, Quantbot Technologies LP purchased a new position in Myers Industries during the third quarter valued at approximately $72,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MYE. Weiss Ratings downgraded shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $21.00.

Myers Industries Price Performance

MYE stock opened at $25.13 on Thursday. Myers Industries, Inc. has a one year low of $12.96 and a one year high of $26.20. The company’s fifty day moving average price is $22.17 and its 200-day moving average price is $20.96. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.29 and a current ratio of 1.65. The company has a market capitalization of $943.88 million, a PE ratio of 35.90 and a beta of 0.98.

Myers Industries (NYSE:MYE) last released its earnings results on Thursday, May 7th. The industrial products company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.28 by $0.16. Myers Industries had a net margin of 3.36% and a return on equity of 17.23%. The firm had revenue of $164.58 million for the quarter, compared to the consensus estimate of $209.30 million.

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.1%. Myers Industries’s dividend payout ratio (DPR) is 77.14%.

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.