Orchard Capital Management LLC acquired a new position in shares of Myers Industries, Inc. (NYSE:MYE – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 75,487 shares of the industrial products company’s stock, valued at approximately $2,665,000. Myers Industries accounts for approximately 2.6% of Orchard Capital Management LLC’s holdings, making the stock its 16th largest holding.
Several other institutional investors and hedge funds have also recently bought and sold shares of MYE. BlackRock Inc. purchased a new stake in Myers Industries during the second quarter valued at about $104,161,000. Vanguard Group Inc. increased its position in shares of Myers Industries by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 2,889,837 shares of the industrial products company’s stock worth $54,098,000 after acquiring an additional 22,263 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Myers Industries by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,589,420 shares of the industrial products company’s stock worth $33,663,000 after acquiring an additional 39,565 shares in the last quarter. Advisory Research Inc. increased its position in shares of Myers Industries by 84.5% in the fourth quarter. Advisory Research Inc. now owns 1,302,928 shares of the industrial products company’s stock worth $24,391,000 after acquiring an additional 596,848 shares in the last quarter. Finally, Pzena Investment Management LLC raised its holdings 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 acquiring an additional 1,159,746 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.
Myers Industries Trading Up 0.2%
Shares of NYSE MYE opened at $33.58 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.21 and a debt-to-equity ratio of 0.91. Myers Industries, Inc. has a one year low of $15.54 and a one year high of $37.45. The business has a 50-day moving average price of $31.67 and a two-hundred day moving average price of $25.40. The firm has a market capitalization of $1.26 billion, a PE ratio of 34.62 and a beta of 0.89.
Myers Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.54 dividend on an annualized basis and a yield of 1.6%. Myers Industries’s payout ratio is presently 55.67%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on MYE. KeyCorp upped their price target on shares of Myers Industries from $26.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Wall Street Zen upgraded shares of Myers Industries from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings raised shares of Myers Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.00.
View Our Latest Stock Report on Myers Industries
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.
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