Federated Investors Inc. PA grew its position in shares of Myers Industries, Inc. (NYSE:MYE) by 11.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,204 shares of the industrial products company’s stock after purchasing an additional 29,136 shares during the period. Federated Investors Inc. PA’s holdings in Myers Industries were worth $4,845,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP purchased a new position in Myers Industries in the first quarter worth $29,000. Investors Research Corp purchased a new position in Myers Industries in the first quarter worth $113,000. BNP Paribas Arbitrage SA grew its position in Myers Industries by 1,004.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,324 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 6,661 shares in the last quarter. Paloma Partners Management Co purchased a new position in Myers Industries in the fourth quarter worth $169,000. Finally, Metropolitan Life Insurance Co. NY grew its position in Myers Industries by 397.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,303 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 9,033 shares in the last quarter. Hedge funds and other institutional investors own 87.10% of the company’s stock.
Shares of NYSE:MYE opened at $18.22 on Friday. Myers Industries, Inc. has a 52-week low of $14.24 and a 52-week high of $25.70. The firm has a market capitalization of $646.12 million, a P/E ratio of 23.36 and a beta of 1.60. The company has a quick ratio of 1.61, a current ratio of 2.10 and a debt-to-equity ratio of 0.51.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Friday, June 14th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, June 13th. Myers Industries’s dividend payout ratio is presently 71.05%.
Separately, Zacks Investment Research upgraded shares of Myers Industries from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.00.
ILLEGAL ACTIVITY NOTICE: “Myers Industries, Inc. (NYSE:MYE) Stake Lifted by Federated Investors Inc. PA” was reported by Markets Daily and is owned by of Markets Daily. If you are reading this story on another publication, it was illegally stolen and reposted in violation of international copyright and trademark law. The correct version of this story can be viewed at https://www.themarketsdaily.com/2019/06/16/myers-industries-inc-nysemye-stake-lifted-by-federated-investors-inc-pa.html.
Myers Industries Company Profile
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
Recommended Story: The risks of owning bonds
Want to see what other hedge funds are holding MYE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Myers Industries, Inc. (NYSE:MYE).
Receive News & Ratings for Myers Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myers Industries and related companies with MarketBeat.com's FREE daily email newsletter.