Versor Investments LP Has $867,000 Stock Position in Myers Industries, Inc. $MYE

Key Points

• Versor Investments LP increased its holdings in Myers Industries by 208.1% during the first quarter, reaching a total of 72,700 shares valued at approximately $867,000.
• Myers Industries reported a missed earnings estimate of $0.31 per share for the last quarter, falling short of the expected $0.32, with revenue also below analysts' expectations.
• The stock is currently trading at $16.19 with a market cap of $605.48 million, while analysts have set a price target of $21.00 following recent upgrades.

Versor Investments LP boosted its position in Myers Industries, Inc. (NYSE:MYE - Free Report) by 208.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,700 shares of the industrial products company's stock after purchasing an additional 49,100 shares during the period. Versor Investments LP owned 0.19% of Myers Industries worth $867,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MYE. LPL Financial LLC raised its position in Myers Industries by 75.9% in the fourth quarter. LPL Financial LLC now owns 28,844 shares of the industrial products company's stock valued at $318,000 after purchasing an additional 12,443 shares during the last quarter. JPMorgan Chase & Co. raised its position in Myers Industries by 70.5% in the fourth quarter. JPMorgan Chase & Co. now owns 227,635 shares of the industrial products company's stock valued at $2,513,000 after purchasing an additional 94,129 shares during the last quarter. Geode Capital Management LLC raised its position in Myers Industries by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 842,106 shares of the industrial products company's stock valued at $9,299,000 after purchasing an additional 9,664 shares during the last quarter. Wells Fargo & Company MN raised its position in Myers Industries by 32.9% in the fourth quarter. Wells Fargo & Company MN now owns 22,464 shares of the industrial products company's stock valued at $248,000 after purchasing an additional 5,566 shares during the last quarter. Finally, Barclays PLC raised its position in Myers Industries by 17.6% in the fourth quarter. Barclays PLC now owns 87,093 shares of the industrial products company's stock valued at $962,000 after purchasing an additional 13,021 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MYE shares. KeyCorp upgraded Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 target price for the company in a research report on Friday, June 13th. Wall Street Zen upgraded Myers Industries from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Myers Industries presently has a consensus rating of "Buy" and an average price target of $21.00.

Myers Industries Trading Up 3.6%

Shares of MYE stock traded up $0.5680 on Friday, hitting $16.5580. The company had a trading volume of 221,371 shares, compared to its average volume of 231,218. The firm has a market cap of $619.43 million, a P/E ratio of 63.68 and a beta of 1.15. The stock's 50-day moving average is $15.29 and its two-hundred day moving average is $12.98. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.12 and a current ratio of 1.77. Myers Industries, Inc. has a twelve month low of $9.06 and a twelve month high of $16.85.

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

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.54 annualized dividend and a yield of 3.3%. Myers Industries's dividend payout ratio (DPR) is currently 207.69%.

Myers Industries Company Profile

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.