Wedge Capital Management L L P NC increased its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 43.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,303 shares of the industrial products company’s stock after purchasing an additional 36,538 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.34% of Myers Industries worth $2,007,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Nuveen Asset Management LLC acquired a new stake in Myers Industries in the second quarter valued at approximately $2,607,000. Morgan Stanley lifted its stake in Myers Industries by 85.1% in the second quarter. Morgan Stanley now owns 238,602 shares of the industrial products company’s stock valued at $4,599,000 after acquiring an additional 109,730 shares during the last quarter. BlackRock Inc. lifted its stake in Myers Industries by 1.9% in the second quarter. BlackRock Inc. now owns 5,270,150 shares of the industrial products company’s stock valued at $101,556,000 after acquiring an additional 98,876 shares during the last quarter. Vanguard Group Inc. lifted its stake in Myers Industries by 3.0% in the second quarter. Vanguard Group Inc. now owns 2,380,273 shares of the industrial products company’s stock valued at $45,868,000 after acquiring an additional 70,133 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Myers Industries by 222.9% in the second quarter. Bank of America Corp DE now owns 83,299 shares of the industrial products company’s stock valued at $1,606,000 after acquiring an additional 57,500 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.
In related news, Director Ronald M. Defeo purchased 10,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $16.25 per share, with a total value of $162,500.00. Following the purchase, the director now directly owns 11,570 shares in the company, valued at approximately $188,012.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.84% of the company’s stock.
Shares of MYE stock opened at $16.93 on Friday. Myers Industries, Inc. has a 1 year low of $14.84 and a 1 year high of $19.55. The firm’s fifty day simple moving average is $16.80 and its 200 day simple moving average is $16.79. The firm has a market capitalization of $616.27 million, a P/E ratio of 22.24 and a beta of 1.56. The company has a current ratio of 2.10, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50.
Myers Industries (NYSE:MYE) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The business had revenue of $125.48 million for the quarter, compared to analyst estimates of $134.90 million. Myers Industries had a net margin of 3.90% and a return on equity of 17.53%. Myers Industries’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Equities research analysts anticipate that Myers Industries, Inc. will post 0.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a $0.135 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.19%. Myers Industries’s dividend payout ratio (DPR) is presently 71.05%.
A number of analysts have recently weighed in on MYE shares. ValuEngine upgraded shares of Myers Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Zacks Investment Research upgraded shares of Myers Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th.
Myers Industries Profile
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company’s Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
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