Covestor Ltd Acquires 7,122 Shares of Myers Industries, Inc. (NYSE:MYE)

Covestor Ltd lifted its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 712,200.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,123 shares of the industrial products company’s stock after purchasing an additional 7,122 shares during the quarter. Covestor Ltd’s holdings in Myers Industries were worth $165,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. acquired a new stake in shares of Myers Industries during the 4th quarter worth approximately $16,196,000. Acadian Asset Management LLC acquired a new stake in shares of Myers Industries during the 1st quarter worth approximately $4,698,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Myers Industries during the 4th quarter worth approximately $3,959,000. Vanguard Group Inc. boosted its position in shares of Myers Industries by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock worth $65,956,000 after acquiring an additional 182,215 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Myers Industries during the 1st quarter worth approximately $2,900,000. 90.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th.

Myers Industries Price Performance

Myers Industries stock traded up $0.09 during mid-day trading on Tuesday, reaching $14.69. The company had a trading volume of 49,477 shares, compared to its average volume of 272,724. Myers Industries, Inc. has a fifty-two week low of $12.47 and a fifty-two week high of $23.63. The company has a current ratio of 1.75, a quick ratio of 1.10 and a debt-to-equity ratio of 1.34. The company has a market cap of $546.17 million, a P/E ratio of 13.78 and a beta of 1.21. The business has a fifty day simple moving average of $14.70 and a 200 day simple moving average of $18.35.

Myers Industries (NYSE:MYE) last issued its earnings results on Tuesday, May 7th. The industrial products company reported $0.21 earnings per share for the quarter. The firm had revenue of $207.10 million for the quarter. Myers Industries had a net margin of 4.90% and a return on equity of 15.99%.

Myers Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Tuesday, June 18th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.68%. Myers Industries’s dividend payout ratio (DPR) is presently 50.94%.

Myers Industries 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.