Walleye Capital LLC Boosts Position in Myers Industries, Inc. (NYSE:MYE)

Walleye Capital LLC increased its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 48.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,933 shares of the industrial products company’s stock after purchasing an additional 14,396 shares during the quarter. Walleye Capital LLC’s holdings in Myers Industries were worth $607,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in Myers Industries during the third quarter worth approximately $246,000. Victory Capital Management Inc. purchased a new stake in Myers Industries during the second quarter worth approximately $13,684,000. Intech Investment Management LLC purchased a new stake in Myers Industries in the third quarter valued at approximately $972,000. American Century Companies Inc. lifted its stake in Myers Industries by 12.3% in the second quarter. American Century Companies Inc. now owns 556,131 shares of the industrial products company’s stock valued at $7,441,000 after buying an additional 60,935 shares during the last quarter. Finally, ClariVest Asset Management LLC lifted its stake in Myers Industries by 60.0% in the second quarter. ClariVest Asset Management LLC now owns 200,266 shares of the industrial products company’s stock valued at $2,680,000 after buying an additional 75,108 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

Separately, KeyCorp cut Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th.

Myers Industries Price Performance

Shares of NYSE MYE opened at $11.85 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. Myers Industries, Inc. has a twelve month low of $10.35 and a twelve month high of $23.63. The stock has a 50 day moving average of $12.18 and a two-hundred day moving average of $13.61. The stock has a market cap of $441.53 million, a P/E ratio of 28.21 and a beta of 1.22.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The firm had revenue of $205.07 million during the quarter. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. During the same period in the prior year, the company posted $0.38 EPS. On average, research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s payout ratio is currently 128.57%.

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.