Myers Industries, Inc. (NYSE:MYE) Shares Purchased by State Street Corp

State Street Corp raised its holdings in Myers Industries, Inc. (NYSE:MYE) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,374,246 shares of the industrial products company’s stock after buying an additional 35,456 shares during the period. State Street Corp owned about 3.69% of Myers Industries worth $19,176,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Myers Industries during the 2nd quarter worth about $25,000. Point72 DIFC Ltd purchased a new stake in shares of Myers Industries during the 3rd quarter worth approximately $28,000. Point72 Asset Management L.P. acquired a new position in shares of Myers Industries in the 3rd quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Myers Industries in the 3rd quarter valued at $85,000. Finally, Quest Partners LLC acquired a new stake in Myers Industries during the 3rd quarter worth $150,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Myers Industries Trading Down 0.6 %

Shares of Myers Industries stock opened at $11.33 on Tuesday. 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 market capitalization of $422.16 million, a P/E ratio of 26.98 and a beta of 1.22. Myers Industries, Inc. has a 1 year low of $10.35 and a 1 year high of $23.63. The company’s fifty day moving average is $12.01 and its two-hundred day moving average is $13.35.

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

Myers Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Tuesday, December 3rd. Myers Industries’s dividend payout ratio is presently 128.57%.

Insider Activity at Myers Industries

In other Myers Industries news, CEO Dave Basque bought 5,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were bought at an average price of $12.13 per share, for a total transaction of $60,650.00. Following the transaction, the chief executive officer now owns 34,152 shares of the company’s stock, valued at approximately $414,263.76. This trade represents a 17.15 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 19,500 shares of company stock worth $232,575 in the last three months. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports 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 Myers Industries from a “hold” rating to a “sell” rating in a research note on Monday, December 16th.

About Myers Industries

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.