Advisory Research Inc. Purchases 583,585 Shares of Myers Industries, Inc. $MYE

Advisory Research Inc. lifted its holdings in Myers Industries, Inc. (NYSE:MYE) by 476.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 706,080 shares of the industrial products company’s stock after buying an additional 583,585 shares during the period. Myers Industries makes up approximately 1.6% of Advisory Research Inc.’s portfolio, making the stock its 22nd biggest holding. Advisory Research Inc. owned 1.89% of Myers Industries worth $11,961,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MYE. Teton Advisors LLC bought a new stake in Myers Industries during the 3rd quarter valued at $5,184,000. Arrowstreet Capital Limited Partnership grew its stake in Myers Industries by 84.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 512,201 shares of the industrial products company’s stock valued at $7,422,000 after acquiring an additional 235,030 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Myers Industries by 137.9% during the 2nd quarter. AQR Capital Management LLC now owns 397,242 shares of the industrial products company’s stock valued at $5,756,000 after purchasing an additional 230,252 shares in the last quarter. Jane Street Group LLC grew its position in shares of Myers Industries by 52.5% during the 1st 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Myers Industries by 105.0% in the third quarter. JPMorgan Chase & Co. now owns 343,045 shares of the industrial products company’s stock worth $5,811,000 after buying an additional 175,684 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Myers Industries in a research report on Thursday, January 22nd. Wall Street Zen upgraded Myers Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. Finally, Zacks Research raised shares of Myers Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Myers Industries currently has an average rating of “Hold” and an average price target of $21.00.

Myers Industries Stock Down 0.8%

Shares of NYSE MYE opened at $21.09 on Friday. The firm’s fifty day moving average is $21.11 and its 200 day moving average is $18.70. Myers Industries, Inc. has a 52 week low of $9.06 and a 52 week high of $24.03. The company has a market cap of $788.65 million, a price-to-earnings ratio of 22.67 and a beta of 1.06. The company has a quick ratio of 1.16, a current ratio of 1.67 and a debt-to-equity ratio of 1.08.

Myers Industries (NYSE:MYE) last posted its earnings results on Thursday, March 5th. The industrial products company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. The company had revenue of $203.97 million during the quarter, compared to analyst estimates of $202.60 million. Myers Industries had a net margin of 4.23% and a return on equity of 14.46%. On average, equities research analysts expect that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 13th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, March 13th. Myers Industries’s payout ratio is presently 58.06%.

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.