Deprince Race & Zollo Inc. Grows Stock Position in Myers Industries, Inc. $MYE

Deprince Race & Zollo Inc. lifted its stake in Myers Industries, Inc. (NYSE:MYE) by 24.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,063 shares of the industrial products company’s stock after purchasing an additional 42,672 shares during the period. Deprince Race & Zollo Inc. owned about 0.58% of Myers Industries worth $4,082,000 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 the stock. Vanguard Group Inc. boosted its holdings in Myers Industries by 4.9% in the third quarter. Vanguard Group Inc. now owns 2,867,574 shares of the industrial products company’s stock valued at $48,577,000 after purchasing an additional 133,496 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Myers Industries by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,291,134 shares of the industrial products company’s stock valued at $39,064,000 after purchasing an additional 51,968 shares during the period. Millennium Management LLC boosted its holdings in Myers Industries by 2.7% in the first quarter. Millennium Management LLC now owns 911,626 shares of the industrial products company’s stock valued at $10,876,000 after purchasing an additional 23,866 shares during the period. Advisory Research Inc. boosted its holdings in Myers Industries by 476.4% in the third quarter. Advisory Research Inc. now owns 706,080 shares of the industrial products company’s stock valued at $11,961,000 after purchasing an additional 583,585 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Myers Industries by 52.5% in the first quarter. Jane Street Group LLC now owns 593,017 shares of the industrial products company’s stock valued at $7,075,000 after purchasing an additional 204,144 shares during the period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Myers Industries Stock Down 0.0%

MYE opened at $22.35 on Tuesday. The business’s 50-day simple moving average is $21.63 and its 200-day simple moving average is $19.45. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.16 and a current ratio of 1.67. The stock has a market capitalization of $835.70 million, a P/E ratio of 24.03 and a beta of 1.09. Myers Industries, Inc. has a one year low of $9.07 and a one year high of $24.03.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Thursday, March 5th. The industrial products company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. The firm had revenue of $203.97 million during the quarter, compared to the consensus estimate of $202.60 million. Myers Industries had a return on equity of 14.46% and a net margin of 4.23%. Analysts anticipate that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Friday, March 13th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.54 annualized dividend and a yield of 2.4%. Myers Industries’s dividend payout ratio is currently 58.06%.

Analyst Ratings Changes

MYE has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Myers Industries in a report on Thursday, January 22nd. Wall Street Zen lowered Myers Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 28th. Finally, Zacks Research raised Myers Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Myers Industries has an average rating of “Hold” and an average price target of $21.00.

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.