Myers Industries, Inc. $MYE Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its position in shares of Myers Industries, Inc. (NYSE:MYE) by 141.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,506 shares of the industrial products company’s stock after purchasing an additional 55,885 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.26% of Myers Industries worth $1,384,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Myers Industries by 586.6% in the 1st quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 2,229 shares during the period. Teacher Retirement System of Texas grew its stake in Myers Industries by 102.2% in the 1st quarter. Teacher Retirement System of Texas now owns 98,877 shares of the industrial products company’s stock valued at $1,180,000 after acquiring an additional 49,979 shares during the period. HighTower Advisors LLC grew its stake in Myers Industries by 1,347.8% in the 1st quarter. HighTower Advisors LLC now owns 172,183 shares of the industrial products company’s stock valued at $2,054,000 after acquiring an additional 160,290 shares during the period. GSA Capital Partners LLP acquired a new stake in Myers Industries in the 1st quarter valued at $680,000. Finally, Goldman Sachs Group Inc. grew its stake in Myers Industries by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 320,996 shares of the industrial products company’s stock valued at $3,829,000 after acquiring an additional 34,787 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Stock Up 3.0%

NYSE MYE opened at $17.35 on Monday. Myers Industries, Inc. has a 52 week low of $9.06 and a 52 week high of $18.24. The company has a quick ratio of 1.12, a current ratio of 1.77 and a debt-to-equity ratio of 1.24. The business’s fifty day simple moving average is $16.59 and its 200-day simple moving average is $14.80. The firm has a market cap of $649.10 million, a PE ratio of 66.73 and a beta of 1.15.

Myers Industries (NYSE:MYE) last posted its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. Myers Industries had a return on equity of 13.02% and a net margin of 1.20%.The business had revenue of $205.44 million for the quarter, compared to analyst estimates of $206.40 million. As a group, equities analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, December 3rd. Myers Industries’s payout ratio is currently 72.97%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MYE shares. Zacks Research cut shares of Myers Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Myers Industries in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Myers Industries presently has a consensus rating of “Hold” and an average price target of $21.00.

Myers Industries Company 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.