Myers Industries, Inc. $MYE Shares Bought by Pzena Investment Management LLC

Pzena Investment Management LLC grew its stake in Myers Industries, Inc. (NYSE:MYE) by 813.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,302,309 shares of the industrial products company’s stock after acquiring an additional 1,159,746 shares during the quarter. Pzena Investment Management LLC’s holdings in Myers Industries were worth $24,379,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Royal Bank of Canada increased its position in Myers Industries by 44.5% during 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 increased its position 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 worth $1,992,000 after purchasing an additional 99,881 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 worth $260,000 after purchasing an additional 936 shares in the last quarter. Millennium Management LLC increased its position in Myers Industries by 2.7% during the 1st quarter. Millennium Management LLC now owns 911,626 shares of the industrial products company’s stock worth $10,876,000 after purchasing an additional 23,866 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings 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 worth $3,829,000 after buying an additional 34,787 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Price Performance

MYE opened at $22.00 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 1.04. Myers Industries, Inc. has a 52-week low of $11.86 and a 52-week high of $24.25. The company has a 50 day moving average of $21.41 and a two-hundred day moving average of $20.36. The company has a market cap of $826.40 million, a P/E ratio of 31.43 and a beta of 0.96.

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

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 13th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, March 13th. Myers Industries’s payout ratio is presently 77.14%.

Analyst Ratings Changes

MYE has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. 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 research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.00.

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.