SeaBridge Investment Advisors LLC Acquires 8,695 Shares of Myers Industries, Inc. (NYSE:MYE)

SeaBridge Investment Advisors LLC boosted its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 41.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,836 shares of the industrial products company’s stock after acquiring an additional 8,695 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Myers Industries were worth $527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC acquired a new position in shares of Myers Industries in the 3rd quarter worth approximately $349,000. State of Alaska Department of Revenue lifted its position in shares of Myers Industries by 125.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 27,270 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 15,199 shares during the period. Susquehanna International Group LLP lifted its position in shares of Myers Industries by 196.9% in the 2nd quarter. Susquehanna International Group LLP now owns 19,287 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 39,187 shares during the period. Summit Global Investments acquired a new position in shares of Myers Industries in the 2nd quarter worth approximately $780,000. Finally, Nuveen Asset Management LLC acquired a new position in shares of Myers Industries in the 2nd quarter worth approximately $2,607,000. Hedge funds and other institutional investors own 87.10% of the company’s stock.

Shares of Myers Industries stock traded down $0.06 during trading on Wednesday, reaching $16.41. 971 shares of the company traded hands, compared to its average volume of 132,082. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.26 and a quick ratio of 1.77. Myers Industries, Inc. has a 1-year low of $14.24 and a 1-year high of $19.55. The company has a 50 day moving average price of $16.98 and a 200-day moving average price of $17.44. The firm has a market capitalization of $583.52 million, a PE ratio of 21.58 and a beta of 1.57.

Myers Industries (NYSE:MYE) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. Myers Industries had a negative net margin of 0.99% and a positive return on equity of 17.51%. The company had revenue of $134.30 million for the quarter, compared to the consensus estimate of $138.00 million. During the same quarter in the previous year, the company earned $0.27 EPS. Myers Industries’s quarterly revenue was down 4.5% compared to the same quarter last year. Equities research analysts expect that Myers Industries, Inc. will post 0.79 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd were given a dividend of $0.135 per share. The ex-dividend date was Friday, August 30th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.29%. Myers Industries’s payout ratio is presently 71.05%.

MYE has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. ValuEngine downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Cowen upgraded shares of Myers Industries from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $22.00 in a research report on Tuesday, August 27th.

About Myers Industries

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.

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Institutional Ownership by Quarter for Myers Industries (NYSE:MYE)

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