Acadian Asset Management LLC Has $2.88 Million Holdings in Myers Industries, Inc. (MYE)

Acadian Asset Management LLC boosted its position in shares of Myers Industries, Inc. (NYSE:MYE) by 374.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,889 shares of the industrial products company’s stock after acquiring an additional 97,803 shares during the period. Acadian Asset Management LLC’s holdings in Myers Industries were worth $2,879,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MYE. BlackRock Inc. grew its holdings in Myers Industries by 36.8% during the 2nd quarter. BlackRock Inc. now owns 3,996,121 shares of the industrial products company’s stock worth $76,725,000 after acquiring an additional 1,075,100 shares in the last quarter. Gabelli Funds LLC grew its holdings in Myers Industries by 26.1% during the 2nd quarter. Gabelli Funds LLC now owns 1,860,676 shares of the industrial products company’s stock worth $35,725,000 after acquiring an additional 385,200 shares in the last quarter. Teton Advisors Inc. grew its holdings in Myers Industries by 57.4% during the 2nd quarter. Teton Advisors Inc. now owns 1,027,900 shares of the industrial products company’s stock worth $19,736,000 after acquiring an additional 374,836 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Myers Industries by 47.9% during the 2nd quarter. Renaissance Technologies LLC now owns 741,500 shares of the industrial products company’s stock worth $14,237,000 after acquiring an additional 240,100 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in Myers Industries during the 2nd quarter worth approximately $3,784,000. Institutional investors own 87.47% of the company’s stock.

Shares of Myers Industries stock opened at $16.47 on Friday. Myers Industries, Inc. has a 12-month low of $15.25 and a 12-month high of $25.70. The company has a quick ratio of 1.34, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $590.37 million, a PE ratio of 32.29 and a beta of 2.02.

Myers Industries (NYSE:MYE) last issued its earnings results on Tuesday, November 6th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. Myers Industries had a negative net margin of 4.21% and a positive return on equity of 18.40%. The business had revenue of $135.22 million during the quarter, compared to analysts’ expectations of $135.08 million. During the same quarter in the prior year, the business posted $0.11 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts expect that Myers Industries, Inc. will post 0.78 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Friday, December 7th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Thursday, December 6th. Myers Industries’s payout ratio is 105.88%.

Several research firms have commented on MYE. ValuEngine upgraded shares of Myers Industries from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Zacks Investment Research cut shares of Myers Industries from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 10th. Cowen began coverage on shares of Myers Industries in a report on Friday, September 28th. They set a “market perform” rating for the company. Finally, KeyCorp reiterated a “sector weight” rating on shares of Myers Industries in a report on Tuesday, August 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.50.

COPYRIGHT VIOLATION WARNING: “Acadian Asset Management LLC Has $2.88 Million Holdings in Myers Industries, Inc. (MYE)” was originally published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this story on another domain, it was stolen and republished in violation of United States & international copyright & trademark laws. The correct version of this story can be accessed at https://sportsperspectives.com/2018/11/10/acadian-asset-management-llc-has-2-88-million-holdings-in-myers-industries-inc-mye.html.

Myers Industries Company Profile

Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.

See Also: How Do You Make Money With Penny Stocks?

Want to see what other hedge funds are holding MYE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Myers Industries, Inc. (NYSE:MYE).

Institutional Ownership by Quarter for Myers Industries (NYSE:MYE)

Receive News & Ratings for Myers Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myers Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply