302,928 Shares in Myers Industries, Inc. $MYE Acquired by Capital World Investors

Capital World Investors acquired a new position in Myers Industries, Inc. (NYSE:MYE) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 302,928 shares of the industrial products company’s stock, valued at approximately $5,671,000.

Several other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in Myers Industries by 36.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,904 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 505 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Myers Industries by 5.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,871 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 708 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Myers Industries by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,835 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 936 shares during the last quarter. Franklin Resources Inc. raised its position in Myers Industries by 3.9% in the 3rd quarter. Franklin Resources Inc. now owns 28,708 shares of the industrial products company’s stock worth $486,000 after purchasing an additional 1,081 shares during the last quarter. Finally, Clearstead Advisors LLC raised its position in Myers Industries by 56.0% in the 4th quarter. Clearstead Advisors LLC now owns 3,438 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 1,234 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on MYE shares. Weiss Ratings cut shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Myers Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Myers Industries currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Myers Industries Stock Performance

Shares of Myers Industries stock opened at $25.13 on Thursday. The firm has a fifty day moving average of $22.17 and a two-hundred day moving average of $20.96. The stock has a market capitalization of $943.88 million, a price-to-earnings ratio of 35.90 and a beta of 0.98. Myers Industries, Inc. has a 52 week low of $12.96 and a 52 week high of $26.20. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.29 and a current ratio of 1.65.

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

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th will be given a dividend of $0.135 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.54 annualized dividend and a dividend yield of 2.1%. Myers Industries’s payout ratio is presently 77.14%.

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.