Pzena Investment Management LLC Raises Stake in Myers Industries, Inc. $MYE

Pzena Investment Management LLC boosted its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 813.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,302,309 shares of the industrial products company’s stock after purchasing an additional 1,159,746 shares during the period. Pzena Investment Management LLC owned approximately 3.48% of Myers Industries worth $24,379,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Myers Industries by 5.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,871 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 708 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Myers Industries by 4.5% in 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 acquiring an additional 936 shares during the period. Franklin Resources Inc. lifted its stake in shares of Myers Industries by 3.9% in the 3rd quarter. Franklin Resources Inc. now owns 28,708 shares of the industrial products company’s stock worth $486,000 after acquiring an additional 1,081 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Myers Industries by 8.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,775 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 1,270 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of Myers Industries by 5.5% in the 2nd quarter. Quantinno Capital Management LP now owns 28,341 shares of the industrial products company’s stock worth $411,000 after acquiring an additional 1,467 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Stock Up 0.1%

Shares of NYSE 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 firm has a 50-day moving average price of $21.41 and a 200 day moving average price of $20.36. The stock has a market capitalization of $826.40 million, a price-to-earnings ratio of 31.43 and a beta of 0.96.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Thursday, May 7th. The industrial products company reported $0.44 EPS for the quarter, beating 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 firm had revenue of $164.58 million during the quarter, compared to analysts’ expectations of $209.30 million.

Myers Industries Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings cut shares of Myers Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $21.00.

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.