Boston Partners Has $2.58 Million Position in Myers Industries, Inc. $MYE

Boston Partners trimmed its position in shares of Myers Industries, Inc. (NYSE:MYE) by 1.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 177,974 shares of the industrial products company’s stock after selling 2,805 shares during the period. Boston Partners owned approximately 0.48% of Myers Industries worth $2,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of 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 buying an additional 4,190 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Myers Industries during the 1st quarter valued at about $1,134,000. GSA Capital Partners LLP bought a new position in Myers Industries during the first quarter worth $680,000. XTX Topco Ltd acquired a new position in Myers Industries during the 1st quarter worth approximately $201,000. Finally, Vanguard Group Inc. grew its position in Myers Industries by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 2,684,971 shares of the industrial products company’s stock valued at $32,032,000 after purchasing an additional 82,223 shares during the period. Institutional investors own 90.82% of the company’s stock.

Myers Industries Price Performance

MYE opened at $18.06 on Friday. The stock has a market capitalization of $675.59 million, a PE ratio of 69.46 and a beta of 1.19. The stock’s 50 day moving average price is $17.06 and its 200-day moving average price is $15.71. Myers Industries, Inc. has a 52-week low of $9.06 and a 52-week high of $18.29. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.12 and a current ratio of 1.77.

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

Myers Industries Dividend Announcement

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 given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 3rd. Myers Industries’s payout ratio is currently 72.97%.

Insider Buying and Selling at Myers Industries

In other Myers Industries news, CFO Samantha Rutty purchased 3,000 shares of the stock in a transaction dated Friday, November 14th. The shares were purchased at an average cost of $17.50 per share, with a total value of $52,500.00. Following the completion of the acquisition, the chief financial officer directly owned 3,000 shares in the company, valued at $52,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Helmuth Ludwig purchased 5,000 shares of Myers Industries stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $17.21 per share, with a total value of $86,050.00. Following the completion of the purchase, the director directly owned 13,436 shares of the company’s stock, valued at approximately $231,233.56. This trade represents a 59.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 9,000 shares of company stock valued at $156,000 over the last 90 days. Corporate insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MYE shares. Zacks Research cut Myers Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Myers Industries in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.00.

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.