Versor Investments LP Purchases New Stake in Myers Industries, Inc. (NYSE:MYE)

Versor Investments LP acquired a new position in shares of Myers Industries, Inc. (NYSE:MYE) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 15,800 shares of the industrial products company’s stock, valued at approximately $218,000.

Other large investors also recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Myers Industries in the 2nd quarter valued at $25,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Myers Industries in the first quarter valued at about $91,000. Covestor Ltd grew its stake in shares of Myers Industries by 712,200.0% in the first quarter. Covestor Ltd now owns 7,123 shares of the industrial products company’s stock valued at $165,000 after buying an additional 7,122 shares in the last quarter. Gallacher Capital Management LLC purchased a new stake in shares of Myers Industries during the 2nd quarter valued at about $186,000. Finally, The Manufacturers Life Insurance Company lifted its position in Myers Industries by 10.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,959 shares of the industrial products company’s stock worth $200,000 after acquiring an additional 1,357 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Stock Down 0.3 %

Shares of Myers Industries stock opened at $11.70 on Friday. Myers Industries, Inc. has a 1-year low of $10.77 and a 1-year high of $23.63. The company has a market capitalization of $435.94 million, a PE ratio of 27.86 and a beta of 1.23. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11. The business has a 50-day moving average of $12.88 and a 200-day moving average of $14.33.

Myers Industries (NYSE:MYE) last released its earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). The business had revenue of $205.07 million for the quarter. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. During the same period in the prior year, the business posted $0.38 EPS. As a group, equities analysts forecast that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be paid a $0.135 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.62%. Myers Industries’s dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp lowered shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th.

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.