Oliver Luxxe Assets LLC Has $2.39 Million Stock Holdings in Myers Industries, Inc. $MYE

Oliver Luxxe Assets LLC reduced its stake in Myers Industries, Inc. (NYSE:MYE) by 37.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 67,799 shares of the industrial products company’s stock after selling 41,356 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Myers Industries were worth $2,394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MYE. Vanguard Group Inc. grew its stake in shares of Myers Industries by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 2,889,837 shares of the industrial products company’s stock valued at $54,098,000 after buying an additional 22,263 shares during the period. Dimensional Fund Advisors LP raised its stake in Myers Industries by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,589,420 shares of the industrial products company’s stock worth $33,663,000 after buying an additional 39,565 shares during the period. Advisory Research Inc. raised its stake in Myers Industries by 84.5% during the 4th quarter. Advisory Research Inc. now owns 1,302,928 shares of the industrial products company’s stock worth $24,391,000 after buying an additional 596,848 shares during the period. Pzena Investment Management LLC boosted its holdings in Myers Industries by 813.5% in the fourth quarter. Pzena Investment Management LLC now owns 1,302,309 shares of the industrial products company’s stock worth $24,379,000 after acquiring an additional 1,159,746 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Myers Industries by 2.7% in the first quarter. Millennium Management LLC now owns 911,626 shares of the industrial products company’s stock worth $10,876,000 after acquiring an additional 23,866 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Myers Industries Stock Down 1.5%

MYE stock opened at $34.48 on Friday. The stock has a market cap of $1.30 billion, a P/E ratio of 35.55 and a beta of 0.89. The company has a current ratio of 1.61, a quick ratio of 1.21 and a debt-to-equity ratio of 0.91. The stock’s fifty day simple moving average is $29.99 and its two-hundred day simple moving average is $24.51. Myers Industries, Inc. has a 1-year low of $15.54 and a 1-year high of $37.45.

Myers Industries (NYSE:MYE) last announced its earnings results on Thursday, July 30th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.17. The firm had revenue of $179.20 million during the quarter, compared to analyst estimates of $166.00 million. Myers Industries had a return on equity of 19.86% and a net margin of 4.86%.

Myers Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th were paid a $0.135 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.54 annualized dividend and a dividend yield of 1.6%. Myers Industries’s dividend payout ratio (DPR) is presently 55.67%.

Analyst Ratings Changes

MYE has been the subject of several recent research reports. KeyCorp boosted their price objective on Myers Industries from $26.00 to $37.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Weiss Ratings upgraded Myers Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of Myers Industries from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.00.

Myers Industries Profile

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.