Deutsche Bank AG purchased a new position in Myers Industries, Inc. (NYSE:MYE - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 40,930 shares of the industrial products company's stock, valued at approximately $1,445,000. Deutsche Bank AG owned about 0.11% of Myers Industries at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of MYE. EverSource Wealth Advisors LLC boosted its position in Myers Industries by 36.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,904 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 505 shares during the last quarter. Strs Ohio increased its position in Myers Industries by 5.5% in the 1st quarter. Strs Ohio now owns 13,500 shares of the industrial products company's stock worth $286,000 after purchasing an additional 700 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Myers Industries by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,835 shares of the industrial products company's stock worth $260,000 after purchasing an additional 936 shares in the last quarter. Diversified Trust Co increased its holdings in Myers Industries by 8.9% in the first quarter. Diversified Trust Co now owns 12,981 shares of the industrial products company's stock worth $275,000 after buying an additional 1,063 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Myers Industries by 3.9% during the third quarter. Franklin Resources Inc. now owns 28,708 shares of the industrial products company's stock valued at $486,000 after acquiring an additional 1,081 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on MYE. Wall Street Zen upgraded Myers Industries from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. KeyCorp boosted their target price on shares of Myers Industries from $26.00 to $37.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings upgraded shares of Myers Industries from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Myers Industries has a consensus rating of "Hold" and an average price target of $37.00.
Read Our Latest Stock Analysis on MYE
Myers Industries Price Performance
Shares of MYE stock opened at $32.74 on Friday. The stock has a 50 day moving average of $32.27 and a two-hundred day moving average of $25.81. The company has a current ratio of 1.61, a quick ratio of 1.21 and a debt-to-equity ratio of 0.91. Myers Industries, Inc. has a 12 month low of $15.54 and a 12 month high of $37.45. The company has a market capitalization of $1.23 billion, a P/E ratio of 33.75 and a beta of 0.89.
Myers Industries (NYSE:MYE - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.17. The business had revenue of $179.20 million for the quarter, compared to analysts' expectations of $166.00 million. Myers Industries had a return on equity of 19.86% and a net margin of 4.86%.
Myers Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, June 17th. Myers Industries's payout ratio is 55.67%.
About Myers Industries
(
Free Report)
Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.
Myers operates primarily through two business segments.
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