Ritholtz Wealth Management Buys 17,696 Shares of Myers Industries, Inc. $MYE

Ritholtz Wealth Management grew its stake in Myers Industries, Inc. (NYSE:MYE) by 10.9% in the third quarter, Holdings Channel.com reports. The firm owned 179,451 shares of the industrial products company’s stock after acquiring an additional 17,696 shares during the quarter. Ritholtz Wealth Management’s holdings in Myers Industries were worth $5,522,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MYE. Public Employees Retirement System of Ohio purchased a new position in Myers Industries during the second quarter worth approximately $40,000. Inspire Investing LLC grew its holdings in Myers Industries by 6.4% in the 3rd quarter. Inspire Investing LLC now owns 20,667 shares of the industrial products company’s stock valued at $636,000 after buying an additional 1,250 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Myers Industries by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 417,591 shares of the industrial products company’s stock valued at $8,845,000 after buying an additional 1,525 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Myers Industries in the 1st quarter valued at $43,000. Finally, Quantinno Capital Management LP increased its stake in shares of Myers Industries by 5.9% in the 1st quarter. Quantinno Capital Management LP now owns 48,499 shares of the industrial products company’s stock worth $1,027,000 after acquiring an additional 2,709 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Stock Performance

Shares of Myers Industries stock opened at $28.38 on Friday. Myers Industries, Inc. has a 52 week low of $16.66 and a 52 week high of $37.45. The business’s fifty day simple moving average is $30.65 and its 200-day simple moving average is $26.91. The firm has a market cap of $1.07 billion, a PE ratio of 37.35 and a beta of 0.84. The company has a quick ratio of 1.37, a current ratio of 1.89 and a debt-to-equity ratio of 0.94.

Myers Industries (NYSE:MYE) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). The business had revenue of $171.34 million for the quarter, compared to analysts’ expectations of $163.80 million. Myers Industries had a return on equity of 20.34% and a net margin of 3.99%. During the same quarter in the prior year, the company posted $0.19 earnings per share.

Myers Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Shareholders of record on Friday, December 4th will be given a $0.1350 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.54 dividend on an annualized basis and a yield of 1.9%. Myers Industries’s dividend payout ratio is presently 71.05%.

Wall Street Analyst Weigh In

MYE has been the topic of several analyst reports. Wall Street Zen lowered Myers Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 8th. Weiss Ratings lowered shares of Myers Industries from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.00.

About Myers Industries

Myers Industries, Inc. is an Ohio-based manufacturer of polymer products and distributor of supplies and equipment for the tire service industry. Founded in 1933, the company has expanded from its origins in tire repair into plastics manufacturing and material handling products. Its products include reusable plastic containers, pallets, bulk storage containers, and other material handling solutions, as well as rotationally molded products for industrial, agricultural, commercial, and consumer uses.