Algert Global LLC Takes $212,000 Position in Myers Industries, Inc. $MYE

Key Points

• Algert Global LLC has acquired a new stake in Myers Industries, buying 17,800 shares valued at approximately $212,000.
• Myers Industries' quarterly earnings report showed an EPS of $0.31, which missed analysts' expectations of $0.32, with revenues falling short of estimates at $209.58 million.
• Institutional investors currently own 90.82% of Myers Industries' stock, with recent upgrades in rating and price targets from analysts reflecting a positive outlook.

Algert Global LLC acquired a new stake in Myers Industries, Inc. (NYSE:MYE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 17,800 shares of the industrial products company's stock, valued at approximately $212,000.

A number of other institutional investors also recently made changes to their positions in the business. Fox Run Management L.L.C. boosted its stake in shares of Myers Industries by 5.0% in the 1st quarter. Fox Run Management L.L.C. now owns 23,904 shares of the industrial products company's stock valued at $285,000 after purchasing an additional 1,148 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Myers Industries by 16.3% during the 1st quarter. Russell Investments Group Ltd. now owns 239,883 shares of the industrial products company's stock valued at $2,862,000 after buying an additional 33,686 shares during the period. HighTower Advisors LLC boosted its position in Myers Industries by 1,347.8% during the 1st quarter. HighTower Advisors LLC now owns 172,183 shares of the industrial products company's stock valued at $2,054,000 after buying an additional 160,290 shares during the period. Nuveen LLC purchased a new stake in Myers Industries during the 1st quarter valued at $9,247,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Myers Industries during the 1st quarter valued at $503,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Myers Industries Stock Down 0.3%

Shares of Myers Industries stock traded down $0.05 during trading on Friday, hitting $16.75. The company's stock had a trading volume of 178,357 shares, compared to its average volume of 283,450. 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 has a fifty day simple moving average of $15.46 and a two-hundred day simple moving average of $13.09. The company has a market capitalization of $626.62 million, a PE ratio of 64.42 and a beta of 1.15. Myers Industries, Inc. has a 52 week low of $9.06 and a 52 week high of $17.12.

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

Myers Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 of this dividend was Wednesday, June 18th. Myers Industries's dividend payout ratio (DPR) is presently 207.69%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. KeyCorp raised shares of Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price target 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 report on Sunday, June 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Myers Industries has a consensus rating of "Buy" and a consensus target price 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.