Dimensional Fund Advisors LP Raises Position in Myers Industries, Inc. (NYSE:MYE)

Dimensional Fund Advisors LP raised its holdings in Myers Industries, Inc. (NYSE:MYE) by 0.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,604,324 shares of the industrial products company’s stock after acquiring an additional 4,777 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Myers Industries were worth $21,466,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in Myers Industries during the 2nd quarter worth approximately $25,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Myers Industries during the first quarter worth $91,000. Covestor Ltd lifted its position in Myers Industries by 712,200.0% during the first quarter. Covestor Ltd now owns 7,123 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 7,122 shares during the period. Gallacher Capital Management LLC purchased a new stake in Myers Industries in the second quarter valued at $186,000. Finally, Central Pacific Bank Trust Division acquired a new stake in Myers Industries during the 1st quarter worth about $228,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, KeyCorp decreased their price objective on Myers Industries from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 2nd.

Myers Industries Stock Performance

NYSE MYE opened at $12.40 on Friday. The stock has a market capitalization of $461.07 million, a price-to-earnings ratio of 12.07 and a beta of 1.21. The stock has a 50-day moving average of $14.23 and a 200 day moving average of $16.51. The company has a current ratio of 1.81, a quick ratio of 1.16 and a debt-to-equity ratio of 1.32. Myers Industries, Inc. has a twelve month low of $12.36 and a twelve month high of $23.63.

Myers Industries (NYSE:MYE) last released its earnings results on Thursday, August 1st. The industrial products company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. The business had revenue of $220.24 million during the quarter. Myers Industries had a net margin of 4.79% and a return on equity of 16.27%. During the same period in the prior year, the firm earned $0.35 EPS. Sell-side analysts anticipate that Myers Industries, Inc. will post 1.13 EPS for the current fiscal year.

Myers Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.35%. The ex-dividend date was Friday, September 13th. Myers Industries’s dividend payout ratio is currently 50.94%.

Myers Industries Company Profile

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.