Pzena Investment Management LLC Purchases New Position in Myers Industries, Inc. $MYE

Pzena Investment Management LLC acquired a new position in Myers Industries, Inc. (NYSE:MYE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 142,563 shares of the industrial products company’s stock, valued at approximately $2,415,000.

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

Analyst Ratings Changes

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

Myers Industries Trading Down 1.0%

Shares of MYE stock opened at $22.50 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.67 and a quick ratio of 1.09. The company has a market cap of $841.58 million, a price-to-earnings ratio of 30.40 and a beta of 1.08. Myers Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $23.14. The firm has a fifty day moving average price of $20.26 and a 200-day moving average price of $18.08.

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.