Principal Financial Group Inc. Increases Holdings in Myers Industries, Inc. $MYE

Key Points

• Principal Financial Group increased its Myers Industries stake by 86.8% in the first quarter, bringing its holdings to 69,583 shares valued at approximately $1.47 million. Institutional investors collectively own 90.82% of the company.
• Myers Industries reported quarterly earnings of $0.53 per share, beating the $0.36 consensus estimate, while revenue reached $179.2 million versus expectations of $166 million. Infrastructure and Food & Beverage markets posted strong growth, though Vehicle and Consumer revenue declined.
• The company pays an annualized dividend of $0.54 per share, yielding about 1.6%. Analysts’ consensus rating is Hold, with an average price target of $37 compared with the stock’s recent price near $33.

Principal Financial Group Inc. boosted its stake in Myers Industries, Inc. (NYSE:MYE - Free Report) by 86.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,583 shares of the industrial products company's stock after purchasing an additional 32,340 shares during the period. Principal Financial Group Inc. owned approximately 0.19% of Myers Industries worth $1,474,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its position in shares of Myers Industries by 813.5% in the fourth quarter. Pzena Investment Management LLC now owns 1,302,309 shares of the industrial products company's stock valued at $24,379,000 after acquiring an additional 1,159,746 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Myers Industries by 105.0% during the third quarter. JPMorgan Chase & Co. now owns 343,045 shares of the industrial products company's stock worth $5,811,000 after acquiring an additional 175,684 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Myers Industries during the fourth quarter valued at approximately $963,000. Deprince Race & Zollo Inc. boosted its position in Myers Industries by 24.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 218,063 shares of the industrial products company's stock valued at $4,082,000 after purchasing an additional 42,672 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Myers Industries in the first quarter valued at approximately $690,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Trading Up 0.4%

Myers Industries stock opened at $33.02 on Friday. Myers Industries, Inc. has a 52 week low of $12.96 and a 52 week high of $36.00. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.29 and a current ratio of 1.65. The stock has a market capitalization of $1.24 billion, a P/E ratio of 47.17 and a beta of 0.88. The stock has a 50-day simple moving average of $28.48 and a 200 day simple moving average of $23.89.

Myers Industries (NYSE:MYE - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.17. Myers Industries had a return on equity of 17.23% and a net margin of 3.36%.The firm had revenue of $179.20 million for the quarter, compared to the consensus estimate of $166.00 million.

Myers Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Wednesday, June 17th. Myers Industries's dividend payout ratio is 77.14%.

More Myers Industries News

Here are the key news stories impacting Myers Industries this week:

• Positive Sentiment: Quarterly results beat estimates. Myers Industries reported second-quarter sales of $179.2 million, up 9.8% year over year and above the $166 million consensus estimate. Reported EPS was approximately $0.50–$0.53, compared with expectations of $0.36. Net income more than doubled to $20.0 million, while operating income reached $31.2 million with a 17.4% margin. Myers Industries Q2 revenue rises 9.8% as EPS reaches 50 cents
• Positive Sentiment: Growth was strong in key end markets. Infrastructure revenue increased 52% and Food & Beverage rose 48%. Revenue growth excluding the company’s exit from approximately $5 million of low-margin products was 13%, suggesting underlying performance was stronger than the headline figure. Myers Industries earnings report
• Positive Sentiment: European ammunition-packaging expansion could support future growth. The Scepter business began producing military ammunition containers in Europe, improving regional capacity and customer access. Management outlined a potential 10% to 15% compound annual growth rate for ammunition packaging through 2028. Myers Industries launches European production of Scepter military packaging
• Positive Sentiment: Cash generation and liquidity remained solid. Operating cash flow was $32.1 million, free cash flow was $26.5 million, and total liquidity was $292.3 million. The company also recently refinanced and extended its credit facilities, which may improve financial flexibility. Myers Industries posts strong second-quarter 2026 results
• Neutral Sentiment: Results were uneven across markets. Vehicle revenue declined 19% and Consumer revenue fell 14%. Management expects strong Infrastructure growth, moderate Industrial and Food & Beverage growth, and stable conditions in Vehicle and Consumer markets.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. KeyCorp boosted their price target on Myers Industries from $26.00 to $37.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 30th. Weiss Ratings cut shares of Myers Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Myers Industries from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $37.00.

Myers Industries Company Profile

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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