Myers Industries, Inc. $MYE Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its holdings in Myers Industries, Inc. (NYSE:MYE) by 144.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 125,888 shares of the industrial products company’s stock after purchasing an additional 74,468 shares during the quarter. Ritholtz Wealth Management owned 0.34% of Myers Industries worth $2,666,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MYE. Pzena Investment Management LLC raised its stake in shares of Myers Industries by 813.5% during the fourth quarter. Pzena Investment Management LLC now owns 1,302,309 shares of the industrial products company’s stock valued at $24,379,000 after purchasing an additional 1,159,746 shares in the last quarter. Advisory Research Inc. grew its position in Myers Industries by 84.5% in the 4th quarter. Advisory Research Inc. now owns 1,302,928 shares of the industrial products company’s stock valued at $24,391,000 after buying an additional 596,848 shares in the last quarter. Teton Advisors LLC bought a new position in Myers Industries in the 3rd quarter valued at about $5,184,000. Capital World Investors acquired a new position in shares of Myers Industries during the fourth quarter valued at approximately $5,671,000. Finally, Simcoe Capital Management LLC acquired a new position in Myers Industries during the third quarter worth about $4,120,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Myers Industries Stock Performance

Shares of Myers Industries stock opened at $32.07 on Friday. Myers Industries, Inc. has a 12 month low of $12.96 and a 12 month high of $32.23. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 1.04. The stock has a market cap of $1.20 billion, a PE ratio of 45.81 and a beta of 0.98. The business has a fifty day simple moving average of $23.73 and a 200-day simple moving average of $21.78.

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

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th will be issued a $0.135 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.7%. Myers Industries’s dividend payout ratio is currently 77.14%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MYE. Weiss Ratings cut Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Myers Industries presently has an average rating of “Hold”.

Myers Industries Company 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.