Charles Schwab Investment Management Inc. Purchases 39,504 Shares of Myers Industries, Inc. $MYE

Key Points

• Charles Schwab Investment Management has increased its stake in Myers Industries, Inc. by 10.4%, owning approximately 1.13% of the company's shares valued at $5.02 million.
• Recent upgrades from analysts include a rating increase from KeyCorp to "overweight" and an average target price of $21.00 for Myers Industries.
• Myers Industries announced a quarterly dividend of $0.135 per share, resulting in an annualized yield of 3.2%, alongside a reported EPS of $0.31 which missed estimates.

Charles Schwab Investment Management Inc. boosted its position in Myers Industries, Inc. (NYSE:MYE - Free Report) by 10.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,885 shares of the industrial products company's stock after purchasing an additional 39,504 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.13% of Myers Industries worth $5,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 2,229 shares in the last quarter. CWM LLC raised its position in shares of Myers Industries by 829.7% during the 1st quarter. CWM LLC now owns 4,695 shares of the industrial products company's stock valued at $56,000 after buying an additional 4,190 shares in the last quarter. Aquatic Capital Management LLC raised its position in shares of Myers Industries by 103.1% during the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company's stock valued at $61,000 after buying an additional 2,784 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Myers Industries during the 4th quarter valued at $114,000. Finally, Graham Capital Management L.P. purchased a new stake in shares of Myers Industries during the 4th quarter valued at $144,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MYE. Wall Street Zen upgraded shares of Myers Industries from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. 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 research report on Friday, June 13th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Myers Industries has an average rating of "Buy" and a consensus target price of $21.00.

Myers Industries Trading Down 0.8%

NYSE:MYE traded down $0.14 during trading hours on Tuesday, reaching $16.60. The company's stock had a trading volume of 194,206 shares, compared to its average volume of 205,975. The firm has a market capitalization of $620.97 million, a price-to-earnings ratio of 63.84 and a beta of 1.19. The firm has a 50-day simple moving average of $15.60 and a 200-day simple moving average of $13.20. Myers Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $17.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.12 and a current ratio of 1.77.

Myers Industries (NYSE:MYE - Get Free Report) last announced its quarterly earnings results 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). The firm 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%. Research analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 18th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, June 18th. Myers Industries's dividend payout ratio (DPR) is 207.69%.

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.