Principal Financial Group Inc. Invests $444,000 in Myers Industries, Inc. $MYE

Principal Financial Group Inc. purchased a new stake in shares of Myers Industries, Inc. (NYSE:MYE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,218 shares of the industrial products company’s stock, valued at approximately $444,000. Principal Financial Group Inc. owned 0.07% of Myers Industries as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MYE. State of Alaska Department of Revenue purchased a new position in Myers Industries in the third quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of Myers Industries by 372.6% in the 2nd 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 during the period. Huntington National Bank purchased a new position in Myers Industries in the second quarter valued at approximately $29,000. Nisa Investment Advisors LLC grew its holdings in Myers Industries by 30.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 861 shares during the period. Finally, New York State Teachers Retirement System bought a new position in Myers Industries during the third quarter valued at $57,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MYE. Wall Street Zen upgraded Myers Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Myers Industries in a report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Myers Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Myers Industries has a consensus rating of “Hold” and a consensus price target of $21.00.

Myers Industries Trading Down 1.0%

Shares of MYE stock opened at $22.50 on Friday. The company has a market capitalization of $841.58 million, a PE ratio of 30.40 and a beta of 1.08. Myers Industries, Inc. has a 52-week low of $9.06 and a 52-week high of $23.14. The business’s fifty day moving average is $20.26 and its 200 day moving average is $18.08. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.09 and a current ratio of 1.67.

Myers Industries Company Profile

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.