Renaissance Technologies LLC Acquires 113,100 Shares of Myers Industries, Inc. (NYSE:MYE)

Renaissance Technologies LLC lifted its stake in Myers Industries, Inc. (NYSE:MYE) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,480,597 shares of the industrial products company’s stock after purchasing an additional 113,100 shares during the period. Renaissance Technologies LLC owned about 3.98% of Myers Industries worth $19,810,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MYE. nVerses Capital LLC purchased a new stake in Myers Industries in the 2nd quarter valued at about $25,000. Quest Partners LLC bought a new position in Myers Industries in the fourth quarter worth approximately $54,000. DekaBank Deutsche Girozentrale purchased a new position in Myers Industries during the 1st quarter worth $91,000. Covestor Ltd raised its position in Myers Industries by 712,200.0% during the 1st quarter. Covestor Ltd now owns 7,123 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 7,122 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Myers Industries in the 1st quarter worth $228,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, KeyCorp cut their price target on Myers Industries from $30.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd.

Myers Industries Stock Performance

MYE stock opened at $14.21 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.81 and a quick ratio of 1.16. The business has a 50-day moving average price of $14.36 and a 200 day moving average price of $16.99. The company has a market capitalization of $528.37 million, a P/E ratio of 13.40 and a beta of 1.22. Myers Industries, Inc. has a 1-year low of $12.47 and a 1-year high of $23.63.

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

Myers Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.54 dividend on an annualized basis and a yield of 3.80%. Myers Industries’s dividend payout ratio is presently 50.94%.

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.