Myers Industries, Inc. $MYE Stock Holdings Increased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 84.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 512,201 shares of the industrial products company’s stock after purchasing an additional 235,030 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.37% of Myers Industries worth $7,422,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MYE. Huntington National Bank acquired a new stake in shares of Myers Industries during the 2nd quarter valued at $29,000. Nisa Investment Advisors LLC increased its stake in shares of Myers Industries by 30.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 861 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Myers Industries during the first quarter worth $119,000. Walleye Capital LLC acquired a new stake in Myers Industries during the first quarter valued at $186,000. Finally, XTX Topco Ltd purchased a new position in Myers Industries in the first quarter valued at about $201,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Stock Up 2.6%

MYE opened at $19.26 on Thursday. The firm has a market cap of $720.33 million, a P/E ratio of 26.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.09 and a current ratio of 1.67. The business has a 50 day moving average price of $17.34 and a 200 day moving average price of $16.06. Myers Industries, Inc. has a twelve month low of $9.06 and a twelve month high of $19.53.

Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. Myers Industries had a return on equity of 13.15% and a net margin of 3.38%.The company had revenue of $205.44 million for the quarter, compared to the consensus estimate of $206.40 million. 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 will be paid on Monday, January 5th. Investors of record on Wednesday, December 3rd will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, December 3rd. Myers Industries’s dividend payout ratio (DPR) is 72.97%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Myers Industries in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. Finally, Zacks Research cut shares of Myers Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.00.

Insiders Place Their Bets

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

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.