Lazard Asset Management LLC Increases Stock Position in Myers Industries, Inc. (NYSE:MYE)

Lazard Asset Management LLC grew its stake in Myers Industries, Inc. (NYSE:MYE – Get Rating) by 285.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,243 shares of the industrial products company’s stock after acquiring an additional 3,882 shares during the period. Lazard Asset Management LLC’s holdings in Myers Industries were worth $86,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MYE. Nuveen Asset Management LLC raised its position in Myers Industries by 3.6% in the third quarter. Nuveen Asset Management LLC now owns 378,799 shares of the industrial products company’s stock valued at $6,239,000 after purchasing an additional 13,283 shares during the period. AXA S.A. acquired a new stake in shares of Myers Industries in the third quarter valued at $231,000. ExodusPoint Capital Management LP purchased a new stake in shares of Myers Industries in the 3rd quarter valued at $220,000. Dimensional Fund Advisors LP lifted its stake in Myers Industries by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,493,877 shares of the industrial products company’s stock worth $24,604,000 after acquiring an additional 24,856 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Myers Industries by 124.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,417 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 1,339 shares during the period. 90.00% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Price Performance

Shares of NYSE MYE opened at $21.25 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.87 and a quick ratio of 1.19. The company has a market cap of $775.63 million, a price-to-earnings ratio of 13.04 and a beta of 1.41. The stock’s 50-day moving average is $23.64 and its two-hundred day moving average is $21.29. Myers Industries, Inc. has a 1-year low of $15.88 and a 1-year high of $26.49.

Myers Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Investors of record on Thursday, March 16th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.54%. Myers Industries’s payout ratio is 33.13%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MYE. TD Cowen cut shares of Myers Industries from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $28.50 to $23.75 in a research report on Thursday. StockNews.com lowered shares of Myers Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Myers Industries Company Profile

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Myers Industries, Inc engages in the manufacture and trade of polymer products. It operates through the Material Handling and Distribution business segments. The Material Handling segment designs, manufactures, and markets a variety of plastic and metal products. The Distribution segment offers tools, equipment, and supplies used for tire, wheel, and under vehicle service on passenger, heavy truck, and off-road vehicles.