Teton Advisors LLC Has $5.28 Million Position in Myers Industries, Inc. $MYE

Teton Advisors LLC lowered its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 6.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 249,500 shares of the industrial products company’s stock after selling 17,500 shares during the period. Myers Industries comprises approximately 3.7% of Teton Advisors LLC’s portfolio, making the stock its biggest holding. Teton Advisors LLC’s holdings in Myers Industries were worth $5,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in Myers Industries by 44.5% in the 1st quarter. Royal Bank of Canada now owns 24,684 shares of the industrial products company’s stock worth $295,000 after purchasing an additional 7,607 shares in the last quarter. AQR Capital Management LLC grew its holdings in Myers Industries by 148.8% during the 1st quarter. AQR Capital Management LLC now owns 166,990 shares of the industrial products company’s stock valued at $1,992,000 after buying an additional 99,881 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Myers Industries by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,835 shares of the industrial products company’s stock valued at $260,000 after buying an additional 936 shares in the last quarter. Millennium Management LLC raised its position in shares of Myers Industries by 2.7% during the first quarter. Millennium Management LLC now owns 911,626 shares of the industrial products company’s stock valued at $10,876,000 after buying an additional 23,866 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Myers Industries by 12.2% during the first quarter. Goldman Sachs Group Inc. now owns 320,996 shares of the industrial products company’s stock valued at $3,829,000 after buying an additional 34,787 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

MYE has been the topic of several research analyst reports. KeyCorp boosted their target price on shares of Myers Industries from $26.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Wall Street Zen cut shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings downgraded shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.00.

Myers Industries Price Performance

NYSE:MYE opened at $31.33 on Friday. The business’s 50-day moving average is $27.59 and its 200 day moving average is $23.47. Myers Industries, Inc. has a 12 month low of $12.96 and a 12 month high of $35.75. The company has a market capitalization of $1.18 billion, a P/E ratio of 44.75 and a beta of 0.88. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 1.04.

Myers Industries (NYSE:MYE) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.16. Myers Industries had a return on equity of 17.23% and a net margin of 3.36%.The business had revenue of $164.58 million during the quarter, compared to analysts’ expectations of $209.30 million.

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were issued a $0.135 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.7%. Myers Industries’s dividend payout ratio (DPR) is 77.14%.

About Myers Industries

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.