775,089 Shares in Myers Industries, Inc. $MYE Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired 775,089 shares of Myers Industries, valued at approximately $9.25 million, giving it a 2.07% stake in the company.
• Wall Street analysts upgraded Myers Industries from a "hold" to a "buy" rating, with a target price of $21.00 per share.
• The company reported a quarterly earnings per share of $0.31, slightly missing the consensus estimate of $0.32.

Nuveen LLC bought a new stake in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 775,089 shares of the industrial products company's stock, valued at approximately $9,247,000. Nuveen LLC owned 2.07% of Myers Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position 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 valued at $32,032,000 after purchasing an additional 82,223 shares during the period. Allspring Global Investments Holdings LLC lifted its position 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 valued at $26,726,000 after purchasing an additional 123,516 shares during the period. Millennium Management LLC lifted its position 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 valued at $9,801,000 after purchasing an additional 791,780 shares during the period. Barington Capital Group L.P. acquired a new position in Myers Industries during the fourth quarter valued at $9,055,000. Finally, Ameriprise Financial Inc. lifted its position 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 valued at $8,895,000 after purchasing an additional 513,431 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Myers Industries Price Performance

Shares of Myers Industries stock traded down $0.09 during trading hours on Friday, reaching $16.71. The stock had a trading volume of 17,212 shares, compared to its average volume of 282,447. The stock's 50 day moving average is $15.46 and its 200 day moving average is $13.09. The firm has a market capitalization of $625.12 million, a PE ratio of 64.27 and a beta of 1.15. Myers Industries, Inc. has a twelve month low of $9.06 and a twelve month high of $17.12. The company has a current ratio of 1.77, a quick ratio of 1.12 and a debt-to-equity ratio of 1.24.

Myers Industries (NYSE:MYE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). Myers Industries had a return on equity of 13.02% and a net margin of 1.20%.The firm had revenue of $209.58 million during the quarter, compared to analyst estimates of $220.60 million. Equities analysts expect that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, June 18th. Myers Industries's dividend payout ratio is 207.69%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MYE shares. KeyCorp upgraded shares of Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 target price for the company in a research report on Friday, June 13th. Wall Street Zen upgraded shares of Myers Industries from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $21.00.

Myers Industries Company 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.