Ritholtz Wealth Management Takes $963,000 Position in Myers Industries, Inc. $MYE

Key Points

• Ritholtz Wealth Management purchased a new stake of 51,420 shares in Myers Industries (NYSE:MYE) during Q4, valued at about $963,000, representing roughly 0.14% ownership.
• Several institutions also increased positions—notably AQR, Millennium and Goldman Sachs—and institutional/hedge fund ownership is high at 90.82% of the float.
• Myers recently beat quarterly EPS estimates ($0.31 vs. $0.23) on ~$204M revenue, trades in a 52-week range of $9.07–$24.03, has a market cap around $828M, and pays a quarterly dividend of $0.135 (≈2.4% yield).

Ritholtz Wealth Management purchased a new stake in Myers Industries, Inc. (NYSE:MYE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 51,420 shares of the industrial products company's stock, valued at approximately $963,000. Ritholtz Wealth Management owned 0.14% of Myers Industries as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MYE. Royal Bank of Canada raised its stake in shares of Myers Industries by 44.5% in the 1st quarter. Royal Bank of Canada now owns 24,684 shares of the industrial products company's stock valued at $295,000 after acquiring an additional 7,607 shares during the period. AQR Capital Management LLC raised its stake in shares of Myers Industries by 148.8% in the 1st quarter. AQR Capital Management LLC now owns 166,990 shares of the industrial products company's stock valued at $1,992,000 after acquiring an additional 99,881 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Myers Industries by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,835 shares of the industrial products company's stock valued at $260,000 after acquiring an additional 936 shares during the period. Millennium Management LLC raised its stake in shares of Myers Industries by 2.7% in the 1st quarter. Millennium Management LLC now owns 911,626 shares of the industrial products company's stock valued at $10,876,000 after acquiring an additional 23,866 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Myers Industries by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 320,996 shares of the industrial products company's stock valued at $3,829,000 after acquiring an additional 34,787 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Price Performance

Shares of MYE opened at $22.15 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.67 and a debt-to-equity ratio of 1.08. Myers Industries, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $24.03. The company has a market cap of $828.41 million, a P/E ratio of 23.82 and a beta of 1.09. The firm's 50 day moving average price is $21.65 and its 200 day moving average price is $19.49.

Myers Industries (NYSE:MYE - Get Free Report) last posted its quarterly earnings results on Thursday, March 5th. The industrial products company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.23 by $0.08. Myers Industries had a net margin of 4.23% and a return on equity of 14.46%. The company had revenue of $203.97 million during the quarter, compared to analysts' expectations of $202.60 million. On average, research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Friday, March 13th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, March 13th. Myers Industries's payout ratio is 58.06%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MYE shares. Weiss Ratings reissued a "hold (c)" rating on shares of Myers Industries in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of Myers Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 28th. Finally, Zacks Research raised shares of Myers Industries from a "strong sell" rating to a "hold" rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $21.00.

Myers Industries 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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