Metis Global Partners LLC Makes New $192,000 Investment in Myers Industries, Inc. (NYSE:MYE)

Metis Global Partners LLC bought a new stake in Myers Industries, Inc. (NYSE:MYE) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 13,916 shares of the industrial products company’s stock, valued at approximately $192,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sei Investments Co. lifted its position in shares of Myers Industries by 81.5% during the 1st quarter. Sei Investments Co. now owns 98,889 shares of the industrial products company’s stock worth $2,291,000 after buying an additional 44,395 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Myers Industries by 135.5% in the first quarter. Russell Investments Group Ltd. now owns 178,330 shares of the industrial products company’s stock worth $4,132,000 after acquiring an additional 102,621 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Myers Industries by 135.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 39,912 shares of the industrial products company’s stock valued at $855,000 after purchasing an additional 22,995 shares in the last quarter. Vanguard Group Inc. increased its position in Myers Industries by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock worth $65,956,000 after purchasing an additional 182,215 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Myers Industries in the 1st quarter valued at approximately $4,698,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, KeyCorp cut shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th.

Myers Industries Price Performance

Myers Industries stock opened at $10.91 on Wednesday. The stock has a 50-day moving average price of $12.78 and a two-hundred day moving average price of $14.11. Myers Industries, Inc. has a 12 month low of $10.77 and a 12 month high of $23.63. The company has a market capitalization of $406.51 million, a PE ratio of 25.98 and a beta of 1.23. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The business had revenue of $205.07 million during the quarter. During the same period in the previous year, the business posted $0.38 EPS. Analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be paid a $0.135 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a dividend yield of 4.95%. Myers Industries’s dividend payout ratio is 128.57%.

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.