Intech Investment Management LLC Takes Position in Myers Industries, Inc. (NYSE:MYE)

Intech Investment Management LLC bought a new stake in shares of Myers Industries, Inc. (NYSE:MYE) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 70,309 shares of the industrial products company’s stock, valued at approximately $972,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MYE. Vanguard Group Inc. boosted its holdings in Myers Industries by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock valued at $65,956,000 after purchasing an additional 182,215 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Myers Industries by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,604,324 shares of the industrial products company’s stock worth $21,466,000 after buying an additional 4,777 shares during the period. Gabelli Funds LLC boosted its stake in Myers Industries by 3.9% in the 2nd quarter. Gabelli Funds LLC now owns 1,572,250 shares of the industrial products company’s stock valued at $21,037,000 after buying an additional 58,500 shares in the last quarter. Renaissance Technologies LLC grew its position in Myers Industries by 8.3% in the second quarter. Renaissance Technologies LLC now owns 1,480,597 shares of the industrial products company’s stock valued at $19,810,000 after acquiring an additional 113,100 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Myers Industries by 1.1% during the third quarter. Victory Capital Management Inc. now owns 1,034,125 shares of the industrial products company’s stock worth $14,292,000 after acquiring an additional 11,434 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Myers Industries Price Performance

Shares of Myers Industries stock opened at $11.44 on Thursday. Myers Industries, Inc. has a 1-year low of $10.35 and a 1-year high of $23.63. The firm’s 50-day moving average price is $12.54 and its two-hundred day moving average price is $13.85. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $426.25 million, a price-to-earnings ratio of 27.24 and a beta of 1.23.

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

Myers Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be issued a $0.135 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.72%. Myers Industries’s dividend payout ratio is 128.57%.

Wall Street Analyst Weigh In

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

Myers Industries 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.