Principal Financial Group Inc. boosted its position in Myers Industries, Inc. (NYSE:MYE) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 297,950 shares of the industrial products company’s stock after buying an additional 8,917 shares during the period. Principal Financial Group Inc. owned approximately 0.84% of Myers Industries worth $4,502,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in MYE. BlackRock Inc. lifted its holdings in Myers Industries by 27.1% in the third quarter. BlackRock Inc. now owns 5,079,461 shares of the industrial products company’s stock valued at $118,098,000 after buying an additional 1,083,340 shares during the period. Vanguard Group Inc lifted its holdings in Myers Industries by 7.5% in the third quarter. Vanguard Group Inc now owns 2,128,543 shares of the industrial products company’s stock valued at $49,489,000 after buying an additional 148,878 shares during the period. Vanguard Group Inc. lifted its holdings in Myers Industries by 7.5% in the third quarter. Vanguard Group Inc. now owns 2,128,543 shares of the industrial products company’s stock valued at $49,489,000 after buying an additional 148,878 shares during the period. Gabelli Funds LLC lifted its holdings in Myers Industries by 5.6% in the fourth quarter. Gabelli Funds LLC now owns 1,842,800 shares of the industrial products company’s stock valued at $27,845,000 after buying an additional 98,300 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Myers Industries by 15.7% in the third quarter. Bank of New York Mellon Corp now owns 541,693 shares of the industrial products company’s stock valued at $12,595,000 after buying an additional 73,359 shares during the period. Institutional investors and hedge funds own 90.16% of the company’s stock.
Several research firms recently issued reports on MYE. Zacks Investment Research lowered shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. ValuEngine lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Six investment analysts have rated the stock with a hold rating, Myers Industries currently has a consensus rating of “Hold” and an average price target of $23.33.
Shares of NYSE MYE opened at $18.22 on Tuesday. Myers Industries, Inc. has a 1-year low of $14.24 and a 1-year high of $25.70. The stock has a market cap of $646.90 million, a PE ratio of 23.97 and a beta of 1.70. The company has a current ratio of 1.88, a quick ratio of 1.43 and a debt-to-equity ratio of 0.50.
Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Thursday, February 28th. The industrial products company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. Myers Industries had a negative net margin of 0.59% and a positive return on equity of 17.92%. The firm had revenue of $138.39 million for the quarter, compared to analyst estimates of $129.42 million. Equities analysts anticipate that Myers Industries, Inc. will post 0.8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Wednesday, March 20th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.54 annualized dividend and a dividend yield of 2.96%. Myers Industries’s dividend payout ratio is currently 71.05%.
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About Myers Industries
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
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