Allspring Global Investments Holdings LLC Purchases 51,968 Shares of Myers Industries, Inc. $MYE

Allspring Global Investments Holdings LLC increased its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,291,134 shares of the industrial products company’s stock after acquiring an additional 51,968 shares during the period. Allspring Global Investments Holdings LLC owned about 6.12% of Myers Industries worth $39,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MYE. EverSource Wealth Advisors LLC boosted its stake in Myers Industries by 372.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,498 shares in the last quarter. Huntington National Bank acquired a new stake in shares of Myers Industries in the second quarter valued at $29,000. Nisa Investment Advisors LLC raised its holdings 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 valued at $54,000 after buying an additional 861 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Myers Industries by 113.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,508 shares of the industrial products company’s stock valued at $80,000 after buying an additional 2,933 shares during the last quarter. Finally, Ieq Capital LLC acquired a new position in Myers Industries during the 1st quarter worth about $119,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Myers Industries Trading Down 0.5%

MYE opened at $18.62 on Friday. The firm has a 50 day simple moving average of $18.25 and a 200 day simple moving average of $16.70. Myers Industries, Inc. has a fifty-two week low of $9.06 and a fifty-two week high of $19.87. The company has a market cap of $696.65 million, a price-to-earnings ratio of 25.16 and a beta of 1.09. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.67 and a quick ratio of 1.09.

Myers Industries (NYSE:MYE) last announced 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. The firm had revenue of $205.44 million for the quarter, compared to analysts’ expectations of $206.40 million. Myers Industries had a net margin of 3.38% and a return on equity of 13.15%. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.9%. Myers Industries’s payout ratio is 72.97%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MYE shares. Weiss Ratings restated a “hold (c)” rating on shares of Myers Industries in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. Finally, Zacks Research raised Myers Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.00.

Insider Transactions at Myers Industries

In related news, Director Helmuth Ludwig bought 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were purchased 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 owned 13,436 shares of the company’s stock, valued at $231,233.56. This represents a 59.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Samantha Rutty bought 3,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were bought at an average price of $17.50 per share, with a total value of $52,500.00. Following the completion of the transaction, the chief financial officer directly owned 3,000 shares in the company, valued at approximately $52,500. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 9,000 shares of company stock valued at $156,000 in the last quarter. 1.85% of the stock is currently owned by corporate insiders.

About Myers Industries

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.