Allspring Global Investments Holdings LLC Acquires 123,516 Shares of Myers Industries, Inc. (NYSE:MYE)

Allspring Global Investments Holdings LLC boosted its position in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,171,055 shares of the industrial products company's stock after buying an additional 123,516 shares during the quarter. Allspring Global Investments Holdings LLC owned 5.82% of Myers Industries worth $26,726,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Myers Industries by 586.6% in the 1st quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company's stock worth $31,000 after acquiring an additional 2,229 shares during the last quarter. Aquatic Capital Management LLC lifted its stake in Myers Industries by 103.1% in the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company's stock worth $61,000 after purchasing an additional 2,784 shares during the last quarter. ProShare Advisors LLC bought a new stake in Myers Industries in the fourth quarter worth about $114,000. Aigen Investment Management LP purchased a new position in shares of Myers Industries during the fourth quarter valued at approximately $138,000. Finally, Graham Capital Management L.P. bought a new position in shares of Myers Industries during the fourth quarter valued at approximately $144,000. Institutional investors own 90.82% of the company's stock.

Myers Industries Trading Down 0.6%

Myers Industries stock traded down $0.10 during trading hours on Friday, hitting $15.53. The company had a trading volume of 92,696 shares, compared to its average volume of 323,822. The firm has a market cap of $580.51 million, a P/E ratio of 55.46 and a beta of 1.14. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.14 and a current ratio of 1.78. Myers Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $17.39. The company has a 50-day moving average price of $13.24 and a two-hundred day moving average price of $12.01.

Myers Industries (NYSE:MYE - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. Myers Industries had a net margin of 1.26% and a return on equity of 14.02%. The business had revenue of $206.75 million for the quarter, compared to analyst estimates of $206.80 million. On average, sell-side analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 18th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Wednesday, June 18th. Myers Industries's dividend payout ratio (DPR) is presently 192.86%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. KeyCorp raised Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price target for the company in a research note on Friday, June 13th. Wall Street Zen upgraded Myers Industries from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd.

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.