Public Sector Pension Investment Board Buys 5,445 Shares of Myers Industries, Inc. (NYSE:MYE)

Public Sector Pension Investment Board raised its stake in Myers Industries, Inc. (NYSE:MYE) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,834 shares of the industrial products company’s stock after purchasing an additional 5,445 shares during the period. Public Sector Pension Investment Board owned approximately 0.22% of Myers Industries worth $1,095,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MYE. ClariVest Asset Management LLC bought a new position in shares of Myers Industries during the 1st quarter worth about $2,900,000. Vanguard Group Inc. lifted its holdings in shares of Myers Industries by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock worth $65,956,000 after acquiring an additional 182,215 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Myers Industries by 135.5% during the 1st quarter. Russell Investments Group Ltd. now owns 178,330 shares of the industrial products company’s stock worth $4,132,000 after acquiring an additional 102,621 shares during the period. Acadian Asset Management LLC bought a new position in shares of Myers Industries during the 1st quarter worth about $4,698,000. Finally, Victory Capital Management Inc. bought a new position in shares of Myers Industries during the 2nd quarter worth about $13,684,000. 90.82% of the stock is owned by institutional investors.

Myers Industries Price Performance

Myers Industries stock opened at $13.47 on Wednesday. The business’s 50-day simple moving average is $14.26 and its 200 day simple moving average is $16.53. The stock has a market cap of $500.86 million, a price-to-earnings ratio of 12.71 and a beta of 1.22. Myers Industries, Inc. has a 12-month low of $12.47 and a 12-month high of $23.63. The company has a quick ratio of 1.16, a current ratio of 1.81 and a debt-to-equity ratio of 1.32.

Myers Industries (NYSE:MYE) last issued its earnings results on Thursday, August 1st. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Myers Industries had a return on equity of 16.27% and a net margin of 4.79%. The firm had revenue of $220.24 million for the quarter. During the same quarter last year, the business posted $0.35 EPS. As a group, research analysts anticipate that Myers Industries, Inc. will post 1.13 earnings per share for the current year.

Myers Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, September 13th. Myers Industries’s dividend payout ratio (DPR) is presently 50.94%.

Analysts Set New Price Targets

Separately, KeyCorp reduced their price objective on shares of Myers Industries from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 2nd.

Myers Industries Profile

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