Victory Capital Management Inc. Buys 11,434 Shares of Myers Industries, Inc. (NYSE:MYE)

Victory Capital Management Inc. grew its stake in Myers Industries, Inc. (NYSE:MYE) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,034,125 shares of the industrial products company’s stock after acquiring an additional 11,434 shares during the quarter. Victory Capital Management Inc.’s holdings in Myers Industries were worth $14,292,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Sei Investments Co. raised its position in shares of Myers Industries by 81.5% in the 1st quarter. Sei Investments Co. now owns 98,889 shares of the industrial products company’s stock worth $2,291,000 after purchasing an additional 44,395 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Myers Industries by 135.5% in the first quarter. Russell Investments Group Ltd. now owns 178,330 shares of the industrial products company’s stock worth $4,132,000 after buying an additional 102,621 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Myers Industries by 135.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 39,912 shares of the industrial products company’s stock valued at $855,000 after buying an additional 22,995 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Myers Industries by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock valued at $65,956,000 after acquiring an additional 182,215 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Myers Industries in the 1st quarter worth approximately $4,698,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Myers Industries Stock Performance

Shares of NYSE MYE opened at $10.91 on Wednesday. The firm’s 50-day moving average price is $12.78 and its 200-day moving average price is $14.11. Myers Industries, Inc. has a 52-week low of $10.77 and a 52-week high of $23.63. The company has a market cap of $406.51 million, a PE ratio of 25.98 and a beta of 1.23. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36.

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

Myers Industries Announces Dividend

The firm also recently disclosed 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. This represents a $0.54 annualized dividend and a dividend yield of 4.95%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s dividend payout ratio (DPR) is presently 128.57%.

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.