Vanguard Maintains 11.6% Stake in Myers Industries

TL;DR

**Vanguard still owns 11.6% of Myers Industries, signaling continued institutional confidence.**

AI Summary

The Vanguard Group, a major investment firm, filed an updated SC 13G/A on February 13, 2024, disclosing its ownership in Myers Industries Inc. As of December 29, 2023, Vanguard beneficially owned 4,206,306 shares of Myers Industries' Common Stock, representing 11.6% of the company. This filing indicates Vanguard's continued significant passive investment in Myers Industries, which is important for shareholders as it signals a large institutional investor's ongoing confidence in the company.

Why It Matters

This filing shows that a major institutional investor, Vanguard, continues to hold a significant portion of Myers Industries, which can be seen as a vote of confidence in the company's long-term prospects.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or changes in company control.

Analyst Insight

Investors should note Vanguard's continued significant, passive stake as a sign of institutional confidence, but this filing alone doesn't suggest any immediate buy/sell action. It's a routine disclosure of a large, long-term holding.

Key Numbers

• 4,206,306 — Shares Beneficially Owned (Represents the total number of Myers Industries Common Stock shares held by The Vanguard Group as of December 29, 2023.)
• 11.6% — Percentage of Class (Indicates the significant portion of Myers Industries' Common Stock owned by The Vanguard Group, highlighting their substantial investment.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Myers Industries Inc (company) — subject company whose securities are being reported
• 4,206,306 (dollar_amount) — number of shares beneficially owned by Vanguard
• 11.6% (dollar_amount) — percentage of class beneficially owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Vanguard will likely maintain a significant, passive stake in Myers Industries Inc. for the foreseeable future. (The Vanguard Group) — high confidence, target: 2025-12-31

FAQ

Filing Documents

• tv01502-myersindustriesinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021513.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Myers Industries Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 1293 South Main Street Akron, OH 44301

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 628464109

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR