Verition Fund Management LLC lessened its stake in Myers Industries, Inc. (NYSE:MYE – Free Report) by 29.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,300 shares of the industrial products company’s stock after selling 4,345 shares during the quarter. Verition Fund Management LLC’s holdings in Myers Industries were worth $142,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of Myers Industries in the third quarter valued at $246,000. Victory Capital Management Inc. purchased a new position in Myers Industries in the 2nd quarter valued at about $13,684,000. Intech Investment Management LLC acquired a new stake in shares of Myers Industries during the third quarter valued at about $972,000. American Century Companies Inc. increased its position in shares of Myers Industries by 12.3% during the second quarter. American Century Companies Inc. now owns 556,131 shares of the industrial products company’s stock worth $7,441,000 after acquiring an additional 60,935 shares during the last quarter. Finally, ClariVest Asset Management LLC lifted its stake in shares of 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 worth $2,680,000 after acquiring an additional 75,108 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on MYE. KeyCorp lowered Myers Industries from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Myers Industries from a “hold” rating to a “sell” rating in a research note on Monday.
Insiders Place Their Bets
In related news, CEO Dave Basque bought 5,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was bought at an average cost of $11.33 per share, for a total transaction of $56,650.00. Following the completion of the purchase, the chief executive officer now directly owns 29,152 shares in the company, valued at approximately $330,292.16. The trade was a 20.70 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have acquired 19,500 shares of company stock valued at $232,575. Company insiders own 1.40% of the company’s stock.
Myers Industries Stock Performance
Shares of MYE stock opened at $12.24 on Tuesday. The stock has a market capitalization of $455.88 million, a price-to-earnings ratio of 29.13 and a beta of 1.22. Myers Industries, Inc. has a one year low of $10.35 and a one year high of $23.63. The company’s 50-day simple moving average is $12.08 and its 200-day simple moving average is $13.46. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80.
Myers Industries (NYSE:MYE – Get Free Report) last released its earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The firm had revenue of $205.07 million for the quarter. During the same quarter in the previous year, the company posted $0.38 earnings per share. Equities analysts anticipate that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.
Myers Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 4.41%. Myers Industries’s payout ratio is 128.57%.
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.
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