Geode Capital Management LLC Has $4.35 Million Stake in Myers Industries, Inc. (MYE)

Geode Capital Management LLC increased its holdings in Myers Industries, Inc. (NYSE:MYE) by 11.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 223,308 shares of the industrial products company’s stock after buying an additional 23,428 shares during the period. Geode Capital Management LLC’s holdings in Myers Industries were worth $4,353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MYE. Bank of New York Mellon Corp raised its position in shares of Myers Industries by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 462,558 shares of the industrial products company’s stock valued at $9,691,000 after buying an additional 3,265 shares in the last quarter. Legal & General Group Plc raised its position in shares of Myers Industries by 8.0% in the third quarter. Legal & General Group Plc now owns 43,450 shares of the industrial products company’s stock valued at $909,000 after buying an additional 3,219 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Myers Industries by 31.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 116,538 shares of the industrial products company’s stock valued at $2,442,000 after purchasing an additional 27,706 shares in the last quarter. OxFORD Asset Management LLP raised its position in Myers Industries by 100.9% during the third quarter. OxFORD Asset Management LLP now owns 40,310 shares of the industrial products company’s stock valued at $845,000 after purchasing an additional 20,247 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its position in Myers Industries by 124.4% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 9,200 shares of the industrial products company’s stock valued at $192,000 after purchasing an additional 5,100 shares in the last quarter. Institutional investors own 87.29% of the company’s stock.

MYE has been the subject of several research analyst reports. ValuEngine upgraded shares of Myers Industries from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded shares of Myers Industries from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Saturday, April 7th. Finally, Wells Fargo upgraded shares of Myers Industries from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Myers Industries has a consensus rating of “Hold” and an average target price of $21.67.

Shares of MYE opened at $23.75 on Friday. Myers Industries, Inc. has a one year low of $15.40 and a one year high of $24.20. The company has a market cap of $724.42, a price-to-earnings ratio of 46.57, a PEG ratio of 9.33 and a beta of 1.78. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.52 and a quick ratio of 1.04.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Tuesday, March 6th. The industrial products company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Myers Industries had a negative net margin of 1.74% and a positive return on equity of 15.86%. The business had revenue of $140.10 million during the quarter, compared to the consensus estimate of $140.70 million. Myers Industries’s quarterly revenue was up 13.6% on a year-over-year basis. sell-side analysts anticipate that Myers Industries, Inc. will post 0.85 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Tuesday, March 20th were given a dividend of $0.135 per share. The ex-dividend date was Monday, March 19th. This represents a $0.54 annualized dividend and a yield of 2.27%. Myers Industries’s dividend payout ratio is currently 105.88%.

In other news, Director Jane Scaccetti acquired 1,500 shares of the stock in a transaction on Tuesday, March 13th. The stock was acquired at an average cost of $21.50 per share, for a total transaction of $32,250.00. Following the completion of the transaction, the director now directly owns 13,590 shares in the company, valued at $292,185. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.75% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: “Geode Capital Management LLC Has $4.35 Million Stake in Myers Industries, Inc. (MYE)” was originally published by Ticker Report and is the sole property of of Ticker Report. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.tickerreport.com/banking-finance/3372758/geode-capital-management-llc-has-4-35-million-stake-in-myers-industries-inc-mye.html.

About Myers Industries

Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.

Want to see what other hedge funds are holding MYE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Myers Industries, Inc. (NYSE:MYE).

Institutional Ownership by Quarter for Myers Industries (NYSE:MYE)

Receive News & Ratings for Myers Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myers Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Short Interest in Cel-Sci Co.  Increases By 24.2%
Short Interest in Cel-Sci Co. Increases By 24.2%
Camber Energy  Short Interest Down 16.2% in May
Camber Energy Short Interest Down 16.2% in May
Short Interest in Golden Minerals Co  Grows By 8.6%
Short Interest in Golden Minerals Co Grows By 8.6%
Analysts Offer Predictions for U.S. Physical Therapy, Inc.’s FY2018 Earnings
Analysts Offer Predictions for U.S. Physical Therapy, Inc.’s FY2018 Earnings
Post  Earning Somewhat Favorable News Coverage, Analysis Finds
Post Earning Somewhat Favorable News Coverage, Analysis Finds
Somewhat Favorable Press Coverage Somewhat Unlikely to Impact PRA Health Sciences  Share Price
Somewhat Favorable Press Coverage Somewhat Unlikely to Impact PRA Health Sciences Share Price


© 2006-2018 Ticker Report. Google+.