The Manufacturers Life Insurance Company Boosts Stake in Myers Industries, Inc. (MYE)
The Manufacturers Life Insurance Company grew its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,300 shares of the industrial products company’s stock after purchasing an additional 892 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Myers Industries worth $346,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Prudential Financial Inc. boosted its position in shares of Myers Industries by 14.3% during the 2nd quarter. Prudential Financial Inc. now owns 42,252 shares of the industrial products company’s stock valued at $758,000 after purchasing an additional 5,270 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Myers Industries by 1.4% during the 2nd quarter. Texas Permanent School Fund now owns 16,031 shares of the industrial products company’s stock valued at $288,000 after purchasing an additional 216 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Myers Industries by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 1,400,774 shares of the industrial products company’s stock valued at $22,202,000 after purchasing an additional 59,870 shares in the last quarter. Strs Ohio boosted its position in shares of Myers Industries by 6.3% during the 2nd quarter. Strs Ohio now owns 20,400 shares of the industrial products company’s stock valued at $366,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Rafferty Asset Management LLC bought a new position in shares of Myers Industries during the 2nd quarter valued at about $5,301,000. Institutional investors own 84.88% of the company’s stock.
Myers Industries, Inc. (MYE) opened at $21.10 on Friday. Myers Industries, Inc. has a 12-month low of $13.20 and a 12-month high of $22.65. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.06 and a current ratio of 1.56. The firm has a market cap of $649.85, a PE ratio of 52.07, a PEG ratio of 14.52 and a beta of 1.76.
Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.11 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.11. Myers Industries had a net margin of 1.24% and a return on equity of 12.93%. The company had revenue of $144.10 million during the quarter, compared to analyst estimates of $138.93 million. During the same quarter last year, the firm posted $0.04 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. sell-side analysts expect that Myers Industries, Inc. will post 0.49 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, November 30th. Myers Industries’s dividend payout ratio is presently 234.78%.
Several research firms have recently weighed in on MYE. Zacks Investment Research lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. KeyCorp restated a “sell” rating and set a $15.00 price objective on shares of Myers Industries in a research report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.50.
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Myers Industries Company Profile
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.
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