Posted by admin on Jul 12th, 2022

Assenagon Asset Management S.A. lifted its holdings in shares of Myers Industries, Inc. (NYSE:MYE – Get Rating) by 29.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,718 shares of the industrial products company’s stock after buying an additional 36,795 shares during the period. Assenagon Asset Management S.A.’s holdings in Myers Industries were worth $3,515,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MYE. Cubist Systematic Strategies LLC purchased a new stake in shares of Myers Industries during the third quarter valued at $297,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Myers Industries during the fourth quarter valued at $41,447,000. ARGI Investment Services LLC purchased a new position in Myers Industries in the fourth quarter worth about $2,172,000. Yousif Capital Management LLC purchased a new position in Myers Industries in the fourth quarter worth about $672,000. Finally, Cim Investment Management Inc. boosted its position in Myers Industries by 100.0% in the fourth quarter. Cim Investment Management Inc. now owns 22,194 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 11,097 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Shares of NYSE:MYE opened at $21.78 on Tuesday. The stock has a market capitalization of $791.57 million, a price-to-earnings ratio of 18.30 and a beta of 1.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.04 and a current ratio of 1.71. The stock’s 50-day simple moving average is $23.18 and its two-hundred day simple moving average is $20.54. Myers Industries, Inc. has a 52-week low of $15.82 and a 52-week high of $25.55.

Myers Industries (NYSE:MYE – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The industrial products company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.28 by $0.22. Myers Industries had a return on equity of 21.67% and a net margin of 5.36%. The firm had revenue of $225.49 million for the quarter, compared to the consensus estimate of $204.21 million. During the same quarter last year, the company earned $0.22 earnings per share. As a group, equities analysts forecast that Myers Industries, Inc. will post 1.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Friday, June 17th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, June 16th. Myers Industries’s dividend payout ratio (DPR) is currently 45.38%.

Separately, StockNews.com raised Myers Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 28th.

About Myers Industries (Get Rating)

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.

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