Russell Investments Group Ltd. Buys 33,686 Shares of Myers Industries, Inc. $MYE

Russell Investments Group Ltd. grew its stake in Myers Industries, Inc. (NYSE:MYE) by 16.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,883 shares of the industrial products company’s stock after purchasing an additional 33,686 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.64% of Myers Industries worth $2,862,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MYE. GAMMA Investing LLC lifted its holdings in shares of Myers Industries by 586.6% in the first quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 2,229 shares in the last quarter. CWM LLC lifted its holdings in Myers Industries by 829.7% during the first 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 period. Aquatic Capital Management LLC lifted its holdings in Myers Industries by 103.1% during the fourth 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 period. ProShare Advisors LLC bought a new stake in Myers Industries during the fourth quarter worth $114,000. Finally, Graham Capital Management L.P. bought a new stake in Myers Industries during the fourth quarter worth $144,000. Institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on MYE shares. KeyCorp upgraded Myers Industries from a “sector weight” rating to an “overweight” rating and set a $21.00 price target on the stock in a report on Friday, June 13th. Wall Street Zen upgraded Myers Industries from a “hold” rating to a “buy” rating in a report on Sunday, June 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $21.00.

Myers Industries Stock Performance

Shares of MYE opened at $16.5580 on Monday. The firm has a market cap of $619.43 million, a PE ratio of 63.68 and a beta of 1.15. The stock’s fifty day moving average price is $15.29 and its two-hundred day moving average price is $12.98. 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, Inc. has a 1 year low of $9.06 and a 1 year high of $16.85.

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

Myers Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 18th were paid a $0.135 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.54 annualized dividend and a dividend yield of 3.3%. Myers Industries’s payout ratio is presently 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.