Separately, Zacks Investment Research raised shares of Myers Industries from a hold rating to a buy rating and set a $24.00 price target for the company in a research report on Wednesday, May 4th.
NYSE MYE opened at $24.24 on Thursday. The company has a 50 day simple moving average of $21.96 and a 200-day simple moving average of $19.86. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.71 and a quick ratio of 1.04. The firm has a market capitalization of $880.88 million, a price-to-earnings ratio of 20.37 and a beta of 1.41. Myers Industries has a 52-week low of $15.82 and a 52-week high of $25.10.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 4th. Investors of record on Thursday, March 17th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 2.23%. The ex-dividend date was Wednesday, March 16th. Myers Industries’s payout ratio is presently 45.38%.
In other Myers Industries news, Director Frederic Jack Liebau, Jr. acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 15th. The shares were purchased at an average price of $18.42 per share, with a total value of $92,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.97% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors raised its position in Myers Industries by 32.8% during the first quarter. Captrust Financial Advisors now owns 4,494 shares of the industrial products company’s stock valued at $98,000 after acquiring an additional 1,109 shares in the last quarter. KBC Group NV grew its holdings in Myers Industries by 65.1% during the first quarter. KBC Group NV now owns 6,029 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 2,377 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Myers Industries by 67.6% during the third quarter. Ensign Peak Advisors Inc now owns 6,200 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 2,500 shares during the last quarter. Royal Bank of Canada grew its holdings in Myers Industries by 31.9% during the second quarter. Royal Bank of Canada now owns 7,573 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 1,831 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY grew its holdings in Myers Industries by 15.0% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 9,517 shares of the industrial products company’s stock valued at $190,000 after purchasing an additional 1,240 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.
About Myers Industries (Get Rating)
Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.
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