Jane Street Group LLC Decreases Stock Holdings in Myers Industries, Inc. (NYSE:MYE)

Jane Street Group LLC lowered its stake in shares of Myers Industries, Inc. (NYSE:MYE) by 22.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 55,127 shares of the industrial products company’s stock after selling 15,810 shares during the quarter. Jane Street Group LLC’s holdings in Myers Industries were worth $762,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Myers Industries during the second quarter worth about $25,000. Point72 DIFC Ltd purchased a new stake in shares of Myers Industries in the 3rd quarter valued at approximately $28,000. Point72 Asset Management L.P. acquired a new stake in shares of Myers Industries during the 3rd quarter worth approximately $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Myers Industries during the 3rd quarter valued at approximately $85,000. Finally, Quest Partners LLC acquired a new position in Myers Industries in the third quarter valued at approximately $150,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Myers Industries Stock Performance

NYSE:MYE opened at $10.75 on Friday. Myers Industries, Inc. has a fifty-two week low of $10.35 and a fifty-two 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 has a 50 day moving average price of $11.70 and a 200 day moving average price of $13.11. The stock has a market capitalization of $400.55 million, a P/E ratio of 25.60 and a beta of 1.22.

Myers Industries (NYSE:MYE) last released its quarterly 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 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 period in the prior year, the company posted $0.38 EPS. Equities research analysts forecast that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 3rd will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 5.02%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s dividend payout ratio is currently 128.57%.

Analyst Ratings Changes

MYE has been the subject of several recent analyst reports. KeyCorp cut 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 report on Friday, December 27th.

Insider Buying and Selling at Myers Industries

In related news, CEO Dave Basque acquired 5,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were acquired at an average price of $12.41 per share, with a total value of $62,050.00. Following the completion of the transaction, the chief executive officer now owns 39,152 shares of the company’s stock, valued at $485,876.32. The trade was a 14.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 19,500 shares of company stock valued at $232,575 in the last three months. 1.40% of the stock is owned by corporate insiders.

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.