Janney Montgomery Scott LLC purchased a new position in Myers Industries, Inc. (NYSE:MYE – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,558 shares of the industrial products company’s stock, valued at approximately $690,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MYE. EverSource Wealth Advisors LLC raised its holdings in shares of Myers Industries by 372.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 1,498 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Myers Industries during the fourth quarter worth $38,000. Quarry LP acquired a new position in shares of Myers Industries during the third quarter worth $48,000. Clearstead Advisors LLC increased its holdings in Myers Industries by 56.0% in the fourth quarter. Clearstead Advisors LLC now owns 3,438 shares of the industrial products company’s stock valued at $64,000 after buying an additional 1,234 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in Myers Industries in the third quarter valued at $61,000. Institutional investors and hedge funds own 90.82% of the company’s stock.
Myers Industries Stock Up 1.7%
Shares of NYSE:MYE opened at $30.95 on Wednesday. Myers Industries, Inc. has a 1-year low of $12.96 and a 1-year high of $35.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.65 and a quick ratio of 1.29. The stock has a market cap of $1.16 billion, a P/E ratio of 44.21 and a beta of 0.88. The firm has a fifty day moving average price of $26.23 and a 200 day moving average price of $22.83.
Myers Industries Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, June 17th. Myers Industries’s payout ratio is 77.14%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. Weiss Ratings downgraded Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. KeyCorp increased their price objective on Myers Industries from $26.00 to $37.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Finally, Wall Street Zen lowered Myers Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.00.
Read Our Latest Analysis on Myers Industries
About Myers Industries
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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