HighTower Advisors LLC Increases Position in Myers Industries, Inc. $MYE

HighTower Advisors LLC increased its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 1,347.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 172,183 shares of the industrial products company’s stock after acquiring an additional 160,290 shares during the quarter. HighTower Advisors LLC owned about 0.46% of Myers Industries worth $2,054,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in Myers Industries by 586.6% during the 1st quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company’s stock valued at $31,000 after buying an additional 2,229 shares during the period. Rhumbline Advisers lifted its holdings in shares of Myers Industries by 4.6% in the 1st quarter. Rhumbline Advisers now owns 54,098 shares of the industrial products company’s stock worth $645,000 after acquiring an additional 2,389 shares during the last quarter. Aquatic Capital Management LLC lifted its holdings in shares of Myers Industries by 103.1% in the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 2,784 shares during the last quarter. CWM LLC lifted its holdings in shares of Myers Industries by 829.7% in the 1st quarter. CWM LLC now owns 4,695 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 4,190 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Myers Industries by 32.9% in the 4th quarter. Wells Fargo & Company MN now owns 22,464 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 5,566 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. KeyCorp upgraded shares of Myers Industries from a “sector weight” rating to an “overweight” rating and set a $21.00 target price for the company in a report on Friday, June 13th. Wall Street Zen upgraded shares of Myers Industries from a “hold” rating to a “buy” rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Myers Industries presently has an average rating of “Buy” and a consensus target price of $21.00.

Myers Industries Trading Up 3.6%

MYE stock opened at $16.5580 on Friday. The company has a market capitalization of $619.43 million, a PE ratio of 63.68 and a beta of 1.15. Myers Industries, Inc. has a 12 month low of $9.06 and a 12 month high of $16.85. The firm’s 50-day moving average is $15.29 and its 200 day moving average is $12.97. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.77 and a quick ratio of 1.12.

Myers Industries (NYSE:MYE) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $209.58 million during the quarter, compared to analysts’ expectations of $220.60 million. Myers Industries had a return on equity of 13.02% and a net margin of 1.20%. On average, research analysts anticipate that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, June 18th. Myers Industries’s dividend payout ratio (DPR) is currently 207.69%.

Myers Industries Profile

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.