Wellington Management Group LLP Purchases 7,192 Shares of Myers Industries, Inc. (NYSE:MYE)

Wellington Management Group LLP raised its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 2.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 323,538 shares of the industrial products company’s stock after acquiring an additional 7,192 shares during the quarter. Wellington Management Group LLP’s holdings in Myers Industries were worth $4,471,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in shares of Myers Industries during the 2nd quarter worth approximately $25,000. Point72 DIFC Ltd bought a new position in shares of Myers Industries during the third quarter worth about $28,000. Point72 Asset Management L.P. acquired a new position in shares of Myers Industries during the 3rd quarter worth about $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Myers Industries in the 3rd quarter valued at about $85,000. Finally, Quest Partners LLC acquired a new stake in shares of Myers Industries in the third quarter valued at approximately $150,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. StockNews.com cut shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Monday. KeyCorp downgraded Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th.

Insider Buying and Selling

In other Myers Industries news, CEO Dave Basque purchased 5,000 shares of the stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $12.13 per share, with a total value of $60,650.00. Following the completion of the purchase, the chief executive officer now directly owns 34,152 shares of the company’s stock, valued at approximately $414,263.76. This trade represents a 17.15 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have purchased 19,500 shares of company stock valued at $232,575. Corporate insiders own 1.40% of the company’s stock.

Myers Industries Price Performance

MYE stock opened at $12.24 on Tuesday. Myers Industries, Inc. has a 52-week low of $10.35 and a 52-week high of $23.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. The company has a market capitalization of $455.88 million, a P/E ratio of 29.13 and a beta of 1.22. The business has a 50-day simple moving average of $12.08 and a two-hundred day simple moving average of $13.46.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate 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 during the quarter. During the same quarter in the prior year, the company posted $0.38 earnings per share. Research analysts expect that Myers Industries, Inc. will post 0.95 EPS 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 paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s payout ratio is currently 128.57%.

About Myers Industries

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.