Exchange Traded Concepts LLC Acquires Shares of 20,985 Myers Industries, Inc. (NYSE:MYE)

Exchange Traded Concepts LLC acquired a new stake in Myers Industries, Inc. (NYSE:MYE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,985 shares of the industrial products company’s stock, valued at approximately $290,000. Exchange Traded Concepts LLC owned approximately 0.06% of Myers Industries at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MYE. Victory Capital Management Inc. acquired a new position in Myers Industries in the second quarter valued at $13,684,000. Acadian Asset Management LLC acquired a new stake in shares of Myers Industries during the first quarter worth about $4,698,000. Vanguard Group Inc. boosted its stake in shares of Myers Industries by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock worth $65,956,000 after buying an additional 182,215 shares during the period. ClariVest Asset Management LLC acquired a new stake in shares of Myers Industries during the first quarter worth about $2,900,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Myers Industries by 8.3% during the second quarter. Renaissance Technologies LLC now owns 1,480,597 shares of the industrial products company’s stock worth $19,810,000 after buying an additional 113,100 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Price Performance

Shares of MYE opened at $13.08 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.16 and a current ratio of 1.81. The company has a market capitalization of $486.35 million, a price-to-earnings ratio of 12.34 and a beta of 1.21. Myers Industries, Inc. has a fifty-two week low of $12.21 and a fifty-two week high of $23.63. The firm has a 50-day simple moving average of $13.86 and a 200-day simple moving average of $15.69.

Myers Industries (NYSE:MYE) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The firm had revenue of $220.24 million during the quarter. Myers Industries had a net margin of 4.79% and a return on equity of 16.27%. During the same quarter in the previous year, the business earned $0.35 EPS. On average, equities research analysts anticipate that Myers Industries, Inc. will post 1.13 earnings per share for the current year.

Myers Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were given a $0.135 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.54 dividend on an annualized basis and a yield of 4.13%. Myers Industries’s payout ratio is currently 50.94%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp decreased their target price on shares of Myers Industries from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th.

Myers Industries 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.