Myers Industries, Inc. $MYE Holdings Raised by Ritholtz Wealth Management

Ritholtz Wealth Management raised its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 144.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,888 shares of the industrial products company’s stock after buying an additional 74,468 shares during the period. Ritholtz Wealth Management’s holdings in Myers Industries were worth $2,666,000 as of its most recent SEC filing.

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

Myers Industries Trading Up 4.9%

NYSE:MYE opened at $32.07 on Friday. The company’s 50 day moving average is $23.73 and its 200-day moving average is $21.78. 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 12 month low of $12.96 and a 12 month high of $32.23. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 45.81 and a beta of 0.98.

Myers Industries (NYSE:MYE) last posted 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. The business had revenue of $164.58 million during the quarter, compared to the consensus estimate of $209.30 million. Myers Industries had a net margin of 3.36% and a return on equity of 17.23%.

Myers Industries Dividend Announcement

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

Wall Street Analyst Weigh In

MYE has been the subject of a number of recent research reports. Wall Street Zen downgraded Myers Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings cut Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus 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.