Connor Clark & Lunn Investment Management Ltd. Invests $187,000 in Myers Industries, Inc. (NYSE:MYE)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Myers Industries, Inc. (NYSE:MYE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,563 shares of the industrial products company’s stock, valued at approximately $187,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MYE. nVerses Capital LLC boosted its position in Myers Industries by 57.9% in the 3rd quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 1,100 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings 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 grew its position 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 valued at $2,501,000 after buying an additional 2,380 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Myers Industries in the first quarter valued at $91,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Myers Industries by 0.3% in 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 acquiring an additional 4,777 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Myers Industries Stock Up 1.3 %

MYE stock opened at $11.60 on Monday. The company has a market cap of $432.22 million, a price-to-earnings ratio of 27.62 and a beta of 1.23. The firm has a 50-day moving average of $12.37 and a two-hundred day moving average of $13.77. Myers Industries, Inc. has a 12 month low of $10.35 and a 12 month high of $23.63. 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 (NYSE:MYE) last released its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 earnings per share (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 firm posted $0.38 EPS. As a group, analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The firm also recently declared 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 is Tuesday, December 3rd. This represents a $0.54 dividend on an annualized basis and a yield of 4.66%. Myers Industries’s dividend payout ratio (DPR) is presently 128.57%.

Analysts Set New Price Targets

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

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.