Teacher Retirement System of Texas lifted its holdings in Myers Industries, Inc. (NYSE:MYE - Free Report) by 102.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,877 shares of the industrial products company's stock after purchasing an additional 49,979 shares during the quarter. Teacher Retirement System of Texas owned about 0.27% of Myers Industries worth $1,180,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised 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 acquiring an additional 2,229 shares during the last quarter. Aquatic Capital Management LLC raised its stake in Myers Industries by 103.1% in the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company's stock worth $61,000 after acquiring an additional 2,784 shares during the last quarter. ProShare Advisors LLC purchased a new position in Myers Industries in the 4th quarter worth $114,000. Graham Capital Management L.P. purchased a new position in Myers Industries in the 4th quarter worth $144,000. Finally, Point72 Asset Management L.P. raised its stake in Myers Industries by 184.6% in the 4th quarter. Point72 Asset Management L.P. now owns 14,800 shares of the industrial products company's stock worth $163,000 after acquiring an additional 9,600 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.
Myers Industries Price Performance
Shares of Myers Industries stock traded up $0.03 on Thursday, hitting $14.90. 196,481 shares of the company were exchanged, compared to its average volume of 320,383. The stock has a market capitalization of $556.96 million, a price-to-earnings ratio of 53.21 and a beta of 1.14. The company has a 50-day moving average price of $13.95 and a 200 day moving average price of $12.24. Myers Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $17.39. The company has a quick ratio of 1.14, a current ratio of 1.78 and a debt-to-equity ratio of 1.34.
Myers Industries (NYSE:MYE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. Myers Industries had a return on equity of 14.02% and a net margin of 1.26%. The firm had revenue of $206.75 million for the quarter, compared to analysts' expectations of $206.80 million. As a group, sell-side analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal 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 $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Wednesday, June 18th. Myers Industries's payout ratio is 192.86%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. KeyCorp upgraded Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price objective 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 note on Sunday, June 22nd.
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Myers Industries Profile
(
Free Report)
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.
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