Myers Industries, Inc. (NYSE:MYE) Short Interest Update

Myers Industries, Inc. (NYSE:MYE) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 807,456 shares, a growth of 37.5% from the February 26th total of 587,067 shares. Based on an average daily trading volume, of 337,624 shares, the short-interest ratio is presently 2.4 days. Approximately 2.2% of the company’s stock are short sold.

Myers Industries Stock Down 1.3%

Shares of Myers Industries stock traded down $0.27 during trading hours on Friday, hitting $20.71. 136,073 shares of the company’s stock traded hands, compared to its average volume of 301,848. Myers Industries has a twelve month low of $9.06 and a twelve month high of $24.03. The company has a market cap of $774.37 million, a PE ratio of 22.26 and a beta of 1.06. The company has a quick ratio of 1.16, a current ratio of 1.67 and a debt-to-equity ratio of 1.08. The stock has a 50 day simple moving average of $21.39 and a 200-day simple moving average of $19.03.

Myers Industries (NYSE:MYE) last released its quarterly earnings results on Thursday, March 5th. The industrial products company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.23 by $0.08. The business had revenue of $203.97 million for the quarter, compared to analysts’ expectations of $202.60 million. Myers Industries had a return on equity of 14.46% and a net margin of 4.23%. Equities research analysts anticipate that Myers Industries will post 0.95 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 13th will be given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, March 13th. Myers Industries’s dividend payout ratio is presently 58.06%.

Analyst Ratings Changes

Several brokerages recently commented on MYE. Weiss Ratings reiterated a “hold (c)” rating on shares of Myers Industries in a report on Thursday, January 22nd. Zacks Research upgraded Myers Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, Wall Street Zen lowered shares of Myers Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Institutional Trading of Myers Industries

A number of hedge funds have recently made changes to their positions in the stock. Semanteon Capital Management LP bought a new position in Myers Industries during the 3rd quarter valued at $391,000. Clayton Partners LLC increased its position in shares of Myers Industries by 43.8% in the 3rd quarter. Clayton Partners LLC now owns 115,000 shares of the industrial products company’s stock worth $1,948,000 after purchasing an additional 35,000 shares during the last quarter. Oliver Luxxe Assets LLC bought a new stake in shares of Myers Industries in the 3rd quarter worth about $1,178,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Myers Industries by 84.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 512,201 shares of the industrial products company’s stock valued at $7,422,000 after purchasing an additional 235,030 shares in the last quarter. Finally, Barington Capital Group L.P. raised its stake in shares of Myers Industries by 3.4% in the 2nd quarter. Barington Capital Group L.P. now owns 770,100 shares of the industrial products company’s stock valued at $11,159,000 after purchasing an additional 25,000 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

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.