Myers Industries, Inc. $MYE Holdings Lessened by Teton Advisors LLC

Teton Advisors LLC decreased its holdings in Myers Industries, Inc. (NYSE:MYE) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,500 shares of the industrial products company’s stock after selling 17,500 shares during the quarter. Myers Industries accounts for about 3.7% of Teton Advisors LLC’s investment portfolio, making the stock its largest position. Teton Advisors LLC owned approximately 0.66% of Myers Industries worth $5,284,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its position in Myers Industries by 10.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 712,692 shares of the industrial products company’s stock worth $15,095,000 after acquiring an additional 67,080 shares during the period. Caxton Associates LLP purchased a new position in shares of Myers Industries during the 1st quarter worth $205,000. Sei Investments Co. boosted its stake in shares of Myers Industries by 77.5% during the 1st quarter. Sei Investments Co. now owns 358,375 shares of the industrial products company’s stock worth $7,590,000 after acquiring an additional 156,470 shares during the last quarter. First Trust Advisors LP grew its position in shares of Myers Industries by 29.9% during the 1st quarter. First Trust Advisors LP now owns 14,611 shares of the industrial products company’s stock valued at $309,000 after acquiring an additional 3,360 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Myers Industries by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,589,420 shares of the industrial products company’s stock valued at $33,663,000 after acquiring an additional 39,565 shares during the period. 90.82% of the stock is currently owned by institutional investors.

Myers Industries Price Performance

NYSE MYE opened at $31.33 on Friday. Myers Industries, Inc. has a 12 month low of $12.96 and a 12 month high of $35.75. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 44.75 and a beta of 0.88. The company’s 50 day moving average is $27.59 and its two-hundred day moving average is $23.47. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 1.04.

Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.16. The business had revenue of $164.58 million for the quarter, compared to the consensus estimate 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 company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were paid a dividend of $0.135 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.7%. Myers Industries’s payout ratio is 77.14%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings cut Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. KeyCorp lifted their target price on Myers Industries from $26.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen lowered Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Myers Industries has a consensus rating of “Hold” and a consensus price target of $37.00.

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.