EVR Research LP Increases Position in Myers Industries, Inc. $MYE

EVR Research LP lifted its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 80.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 180,000 shares of the industrial products company’s stock after buying an additional 80,000 shares during the quarter. Myers Industries makes up approximately 1.8% of EVR Research LP’s investment portfolio, making the stock its 17th largest position. EVR Research LP’s holdings in Myers Industries were worth $3,049,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MYE. Advisory Research Inc. raised its stake in Myers Industries by 476.4% during the 3rd quarter. Advisory Research Inc. now owns 706,080 shares of the industrial products company’s stock valued at $11,961,000 after acquiring an additional 583,585 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Myers Industries by 7.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 552,818 shares of the industrial products company’s stock valued at $9,365,000 after purchasing an additional 40,617 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Myers Industries by 4.6% in the third quarter. Sei Investments Co. now owns 84,068 shares of the industrial products company’s stock valued at $1,424,000 after purchasing an additional 3,664 shares during the period. UBS Group AG increased its holdings in shares of Myers Industries by 4.8% in the third quarter. UBS Group AG now owns 150,284 shares of the industrial products company’s stock valued at $2,546,000 after purchasing an additional 6,879 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Myers Industries by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 15,775 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 1,270 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

MYE has been the subject of several recent research reports. Zacks Research raised Myers Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. Wall Street Zen raised shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Myers Industries in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Myers Industries Stock Down 0.8%

Myers Industries stock opened at $21.09 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.67 and a quick ratio of 1.16. Myers Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $24.03. The company has a market cap of $788.65 million, a PE ratio of 22.67 and a beta of 1.06. The stock’s 50 day moving average price is $21.11 and its 200 day moving average price is $18.70.

Myers Industries (NYSE:MYE) last released its quarterly earnings data on Thursday, March 5th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.08. Myers Industries had a return on equity of 14.46% and a net margin of 4.23%.The firm had revenue of $203.97 million during the quarter, compared to analysts’ expectations of $202.60 million. On average, sell-side analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Friday, March 13th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, March 13th. Myers Industries’s dividend payout ratio (DPR) is currently 58.06%.

Myers Industries Company Profile

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.