Universal Beteiligungs und Servicegesellschaft mbH Invests $1.13 Million in Myers Industries, Inc. (NYSE:MYE)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has invested approximately $1.13 million in Myers Industries by acquiring 95,086 shares, representing a 0.25% ownership in the company.
• Analysts have recently upgraded Myers Industries, with KeyCorp changing its rating to "overweight" and setting a price target of $21.00 per share.
• Myers Industries announced a quarterly dividend of $0.135 per share, which yields about 3.6%, but comes with a notably high payout ratio of 192.86%.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Myers Industries, Inc. (NYSE:MYE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 95,086 shares of the industrial products company's stock, valued at approximately $1,134,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.25% of Myers Industries at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Myers Industries by 586.6% in the first quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company's stock worth $31,000 after buying an additional 2,229 shares in the last quarter. CWM LLC lifted its holdings in shares of Myers Industries by 829.7% in the first quarter. CWM LLC now owns 4,695 shares of the industrial products company's stock worth $56,000 after buying an additional 4,190 shares in the last quarter. Aquatic Capital Management LLC raised its stake in Myers Industries by 103.1% in the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the industrial products company's stock valued at $61,000 after purchasing an additional 2,784 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Myers Industries in the fourth quarter valued at approximately $114,000. Finally, Graham Capital Management L.P. purchased a new stake in Myers Industries in the fourth quarter valued at approximately $144,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Price Performance

NYSE MYE traded up $0.23 on Tuesday, reaching $16.00. 69,134 shares of the company's stock traded hands, compared to its average volume of 290,590. Myers Industries, Inc. has a 12 month low of $9.06 and a 12 month high of $16.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.77 and a quick ratio of 1.12. The stock has a 50-day simple moving average of $14.58 and a 200 day simple moving average of $12.58. The stock has a market cap of $597.89 million, a PE ratio of 61.51 and a beta of 1.15.

Myers Industries (NYSE:MYE - Get Free Report) last issued its earnings results on Thursday, July 31st. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Myers Industries had a return on equity of 13.02% and a net margin of 1.20%. The firm had revenue of $209.58 million during the quarter, compared to the consensus estimate of $220.60 million. As a group, research analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th were issued a $0.135 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.54 annualized dividend and a yield of 3.4%. Myers Industries's payout ratio is 207.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MYE shares. KeyCorp raised shares of Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 target price on the stock in a research note on Friday, June 13th. Wall Street Zen raised shares of Myers Industries from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd.

About Myers Industries

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.