Wells Fargo & Company MN increased its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,863 shares of the industrial products company’s stock after purchasing an additional 3,882 shares during the period. Wells Fargo & Company MN’s holdings in Myers Industries were worth $1,206,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of MYE. SG Americas Securities LLC acquired a new stake in Myers Industries during the 2nd quarter worth $150,000. Metropolitan Life Insurance Co. NY boosted its stake in Myers Industries by 31.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,364 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 2,462 shares during the period. MetLife Investment Advisors LLC boosted its stake in Myers Industries by 37.6% during the 2nd quarter. MetLife Investment Advisors LLC now owns 14,676 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 4,011 shares during the period. Louisiana State Employees Retirement System boosted its stake in Myers Industries by 28.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the industrial products company’s stock worth $360,000 after purchasing an additional 3,400 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Myers Industries during the 2nd quarter worth $362,000. Hedge funds and other institutional investors own 88.33% of the company’s stock.
MYE has been the subject of a number of recent research reports. ValuEngine upgraded shares of Myers Industries from a “hold” rating to a “buy” rating in a research note on Friday, December 7th. TheStreet cut shares of Myers Industries from a “b” rating to a “c-” rating in a research note on Thursday, November 8th. Cowen initiated coverage on shares of Myers Industries in a research note on Friday, September 28th. They set a “market perform” rating for the company. Finally, Zacks Investment Research upgraded shares of Myers Industries from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, Myers Industries currently has an average rating of “Hold” and an average target price of $23.33.
Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. The company had revenue of $135.22 million during the quarter, compared to the consensus estimate of $135.08 million. Myers Industries had a negative net margin of 4.21% and a positive return on equity of 18.40%. Myers Industries’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS. On average, equities research analysts forecast that Myers Industries, Inc. will post 0.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 3rd. Shareholders of record on Friday, December 7th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Thursday, December 6th. This represents a $0.54 dividend on an annualized basis and a yield of 3.39%. Myers Industries’s payout ratio is currently 105.88%.
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.
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