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 acquired a new position in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 775,089 shares of the industrial products company's stock, valued at approximately $9,247,000. Nuveen LLC owned approximately 2.07% of Myers Industries at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Myers Industries by 586.6% during the first quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company's stock worth $31,000 after buying an additional 2,229 shares in the last quarter. CWM LLC increased its holdings in shares of Myers Industries by 829.7% during the first quarter. CWM LLC now owns 4,695 shares of the industrial products company's stock worth $56,000 after buying an additional 4,190 shares in the last quarter. Aquatic Capital Management LLC increased its holdings in shares of Myers Industries by 103.1% during the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company's stock worth $61,000 after buying an additional 2,784 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Myers Industries during the fourth quarter worth approximately $114,000. Finally, Graham Capital Management L.P. acquired a new stake in shares of Myers Industries during the fourth quarter worth approximately $144,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Myers Industries Trading Down 0.3%

MYE stock traded down $0.05 during midday trading on Friday, reaching $16.75. The company's stock had a trading volume of 178,357 shares, compared to its average volume of 223,658. Myers Industries, Inc. has a 52 week low of $9.06 and a 52 week high of $17.12. The stock has a market cap of $626.62 million, a PE ratio of 64.42 and a beta of 1.15. The company has a quick ratio of 1.12, a current ratio of 1.77 and a debt-to-equity ratio of 1.24. The business's 50-day simple moving average is $15.51 and its 200-day simple moving average is $13.13.

Myers Industries (NYSE:MYE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $220.60 million. As a group, sell-side analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

MYE has been the topic of several research analyst reports. KeyCorp raised shares of Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price target on the stock in a research note on Friday, June 13th. Wall Street Zen raised shares of Myers Industries from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $21.00.

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.