Fmr LLC Has $1.02 Million Stock Position in Myers Industries, Inc. (NYSE:MYE)

Fmr LLC lifted its stake in Myers Industries, Inc. (NYSE:MYE) by 14.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 73,450 shares of the industrial products company’s stock after buying an additional 9,349 shares during the period. Fmr LLC’s holdings in Myers Industries were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. nVerses Capital LLC grew its stake in shares of Myers Industries by 57.9% in the third quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 1,100 shares during the last quarter. Foundry Partners LLC boosted its stake in Myers Industries by 1.0% during the third quarter. Foundry Partners LLC now owns 127,508 shares of the industrial products company’s stock worth $1,762,000 after buying an additional 1,220 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Myers Industries by 10.0% during the second quarter. The Manufacturers Life Insurance Company now owns 14,959 shares of the industrial products company’s stock worth $200,000 after buying an additional 1,357 shares in the last quarter. Tieton Capital Management LLC boosted its stake in Myers Industries by 1.3% during the second quarter. Tieton Capital Management LLC now owns 186,925 shares of the industrial products company’s stock worth $2,501,000 after buying an additional 2,380 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Myers Industries by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,604,324 shares of the industrial products company’s stock worth $21,466,000 after buying an additional 4,777 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Myers Industries Stock Down 0.5 %

Shares of NYSE:MYE opened at $12.24 on Tuesday. Myers Industries, Inc. has a 52 week low of $10.35 and a 52 week high of $23.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. The company’s fifty day moving average is $12.08 and its 200-day moving average is $13.46. The company has a market capitalization of $455.88 million, a PE ratio of 29.13 and a beta of 1.22.

Myers Industries (NYSE:MYE) last issued its earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The firm had revenue of $205.07 million during the quarter. During the same quarter in the previous year, the company earned $0.38 EPS. Equities research analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be paid a $0.135 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a dividend yield of 4.41%. Myers Industries’s dividend payout ratio is presently 128.57%.

Insider Activity

In other Myers Industries news, CEO Dave Basque purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average cost of $11.33 per share, with a total value of $56,650.00. Following the completion of the acquisition, the chief executive officer now directly owns 29,152 shares of the company’s stock, valued at $330,292.16. This represents a 20.70 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have bought 19,500 shares of company stock worth $232,575. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MYE. KeyCorp downgraded shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a research note on Monday.

Myers Industries 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.