15,580 Shares in Myers Industries, Inc. $MYE Bought by Walleye Capital LLC

Key Points

• Walleye Capital LLC acquired 15,580 shares of Myers Industries valued at approximately $186,000 as part of its new position, highlighting increasing interest from institutional investors.
• The company reported quarterly earnings of $0.31 per share, missing estimates of $0.32, with revenue of $209.58 million falling short of the anticipated $220.60 million.
• Myers Industries announced a quarterly dividend of $0.135 per share, with a dividend yield of 3.2% and a payout ratio of 207.69%.

Walleye Capital LLC bought a new position in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,580 shares of the industrial products company's stock, valued at approximately $186,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Myers Industries by 3.2% during the first quarter. Vanguard Group Inc. now owns 2,684,971 shares of the industrial products company's stock worth $32,032,000 after buying an additional 82,223 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Myers Industries by 6.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,171,055 shares of the industrial products company's stock worth $26,726,000 after buying an additional 123,516 shares during the last quarter. Millennium Management LLC increased its holdings in Myers Industries by 824.9% during the fourth quarter. Millennium Management LLC now owns 887,760 shares of the industrial products company's stock worth $9,801,000 after buying an additional 791,780 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Myers Industries by 175.7% during the fourth quarter. Ameriprise Financial Inc. now owns 805,608 shares of the industrial products company's stock worth $8,895,000 after buying an additional 513,431 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Myers Industries during the first quarter worth $9,247,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Myers Industries Trading Up 1.9%

MYE stock opened at $16.70 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.12 and a current ratio of 1.77. The company's 50-day simple moving average is $15.67 and its 200 day simple moving average is $13.25. Myers Industries, Inc. has a 52 week low of $9.06 and a 52 week high of $17.12. The company has a market capitalization of $624.71 million, a PE ratio of 64.23 and a beta of 1.19.

Myers Industries (NYSE:MYE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Myers Industries had a net margin of 1.20% and a return on equity of 13.02%. The business had revenue of $209.58 million during the quarter, compared to analyst estimates of $220.60 million. As a group, sell-side analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 12th will be paid a $0.135 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.54 annualized dividend and a dividend yield of 3.2%. Myers Industries's dividend payout ratio is 207.69%.

Analysts Set New Price Targets

Several research firms have commented on MYE. KeyCorp upgraded shares of Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price objective on the stock in a report on Friday, June 13th. Wall Street Zen upgraded shares of Myers Industries from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Myers Industries has an average rating of "Buy" and an average price target of $21.00.

About Myers Industries

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.

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