Access Investment Management LLC Makes New $2.15 Million Investment in Myers Industries, Inc. $MYE

Access Investment Management LLC purchased a new position in shares of Myers Industries, Inc. (NYSE:MYE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 148,580 shares of the industrial products company’s stock, valued at approximately $2,153,000. Access Investment Management LLC owned about 0.40% of Myers Industries at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Myers Industries by 586.6% in the first quarter. GAMMA Investing LLC now owns 2,609 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 2,229 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Myers Industries by 30.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 861 shares in the last quarter. CWM LLC increased its holdings in shares of Myers Industries by 829.7% during the first quarter. CWM LLC now owns 4,695 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 4,190 shares during the period. Ieq Capital LLC acquired a new stake in shares of Myers Industries in the first quarter valued at approximately $119,000. Finally, Walleye Capital LLC bought a new stake in shares of Myers Industries in the first quarter valued at approximately $186,000. Institutional investors own 90.82% of the company’s stock.

Myers Industries Trading Up 3.0%

Shares of MYE stock opened at $17.35 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.77 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $649.10 million, a P/E ratio of 66.73 and a beta of 1.15. Myers Industries, Inc. has a twelve month low of $9.06 and a twelve month high of $18.24. The stock’s fifty day simple moving average is $16.59 and its 200 day simple moving average is $14.80.

Myers Industries (NYSE:MYE) last released its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $205.44 million during the quarter, compared to the consensus estimate of $206.40 million. Myers Industries had a return on equity of 13.02% and a net margin of 1.20%. As a group, sell-side analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 3.1%. Myers Industries’s dividend payout ratio is currently 72.97%.

Analyst Ratings Changes

MYE has been the subject of several analyst reports. Wall Street Zen cut Myers Industries from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Zacks Research downgraded shares of Myers Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Myers Industries in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.00.

Myers Industries Company 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.