Renaissance Technologies LLC Has $26.80 Million Stock Holdings in Myers Industries, Inc. $MYE

Renaissance Technologies LLC trimmed its position in Myers Industries, Inc. (NYSE:MYE) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,265,597 shares of the industrial products company’s stock after selling 42,993 shares during the quarter. Renaissance Technologies LLC’s holdings in Myers Industries were worth $26,805,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Myers Industries by 372.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 1,498 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Myers Industries during the 4th quarter worth $38,000. Quarry LP bought a new stake in shares of Myers Industries during the 3rd quarter worth $48,000. Clearstead Advisors LLC lifted its position in shares of Myers Industries by 56.0% during the 4th quarter. Clearstead Advisors LLC now owns 3,438 shares of the industrial products company’s stock worth $64,000 after buying an additional 1,234 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in Myers Industries in the third quarter valued at about $61,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MYE has been the topic of a number of recent analyst reports. Weiss Ratings cut Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. KeyCorp increased 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. Finally, Wall Street Zen cut Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Myers Industries presently has an average rating of “Hold” and a consensus target price of $37.00.

Myers Industries Price Performance

Shares of NYSE:MYE opened at $32.84 on Thursday. The firm has a market cap of $1.23 billion, a PE ratio of 46.92 and a beta of 0.88. The firm’s fifty day moving average is $28.26 and its 200-day moving average is $23.80. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.29 and a current ratio of 1.65. Myers Industries, Inc. has a 52 week low of $12.96 and a 52 week high of $35.75.

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

Myers Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th were paid a $0.135 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.54 annualized dividend and a dividend yield of 1.6%. Myers Industries’s dividend payout ratio is presently 77.14%.

Myers Industries 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.