Myers Industries, Inc. $MYE Stock Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management increased its stake in Myers Industries, Inc. (NYSE:MYE) by 10.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 179,451 shares of the industrial products company’s stock after acquiring an additional 17,696 shares during the quarter. Ritholtz Wealth Management owned approximately 0.48% of Myers Industries worth $5,522,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MYE. MGO One Seven LLC acquired a new stake in shares of Myers Industries in the third quarter valued at about $221,000. Sowell Financial Services LLC acquired a new position in shares of Myers Industries during the 3rd quarter worth about $3,278,000. Sterling Capital Management LLC raised its position in shares of Myers Industries by 907.4% during the 3rd quarter. Sterling Capital Management LLC now owns 6,800 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 6,125 shares during the last quarter. Inspire Investing LLC raised its position in shares of Myers Industries by 6.4% during the 3rd quarter. Inspire Investing LLC now owns 20,667 shares of the industrial products company’s stock worth $636,000 after purchasing an additional 1,250 shares during the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in Myers Industries by 12.7% in the 3rd quarter. CWA Asset Management Group LLC now owns 29,209 shares of the industrial products company’s stock valued at $899,000 after buying an additional 3,284 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen cut Myers Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 8th. Weiss Ratings cut Myers Industries from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.00.

Myers Industries Price Performance

Myers Industries stock opened at $28.38 on Friday. Myers Industries, Inc. has a 52-week low of $16.66 and a 52-week high of $37.45. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 37.35 and a beta of 0.84. The company has a fifty day simple moving average of $30.65 and a 200-day simple moving average of $26.91. The company has a quick ratio of 1.37, a current ratio of 1.89 and a debt-to-equity ratio of 0.94.

Myers Industries (NYSE:MYE) last issued its earnings results on Thursday, October 29th. The industrial products company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). The business had revenue of $171.34 million during the quarter, compared to analyst estimates of $163.80 million. Myers Industries had a net margin of 3.99% and a return on equity of 20.34%. During the same quarter last year, the company earned $0.19 earnings per share.

Myers Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 6th. Investors of record on Friday, December 4th will be paid a dividend of $0.1350 per share. This represents a $0.54 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, December 4th. Myers Industries’s dividend payout ratio is currently 71.05%.

About Myers Industries

Myers Industries, Inc. is an Ohio-based manufacturer of polymer products and distributor of supplies and equipment for the tire service industry. Founded in 1933, the company has expanded from its origins in tire repair into plastics manufacturing and material handling products. Its products include reusable plastic containers, pallets, bulk storage containers, and other material handling solutions, as well as rotationally molded products for industrial, agricultural, commercial, and consumer uses.