nVerses Capital LLC Boosts Holdings in Myers Industries, Inc. (NYSE:MYE)

nVerses Capital LLC raised its position in shares of Myers Industries, Inc. (NYSE:MYE) by 57.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,000 shares of the industrial products company’s stock after acquiring an additional 1,100 shares during the period. nVerses Capital LLC’s holdings in Myers Industries were worth $41,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. bought a new position in Myers Industries during the 2nd quarter valued at about $13,684,000. Acadian Asset Management LLC purchased a new stake in shares of Myers Industries in the first quarter worth approximately $4,698,000. Vanguard Group Inc. lifted its stake in shares of Myers Industries by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock worth $65,956,000 after acquiring an additional 182,215 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in Myers Industries during the 1st quarter valued at $2,900,000. Finally, Renaissance Technologies LLC grew its position in Myers Industries by 8.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,480,597 shares of the industrial products company’s stock valued at $19,810,000 after acquiring an additional 113,100 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Myers Industries Price Performance

Shares of MYE stock opened at $12.61 on Wednesday. The company’s 50-day simple moving average is $13.86 and its two-hundred day simple moving average is $15.58. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.81 and a quick ratio of 1.16. Myers Industries, Inc. has a one year low of $12.21 and a one year high of $23.63. The company has a market capitalization of $468.88 million, a P/E ratio of 11.90 and a beta of 1.21.

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

Myers Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend was Friday, September 13th. Myers Industries’s dividend payout ratio (DPR) is presently 50.94%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp lowered 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 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.