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

Fmr LLC grew its position in Myers Industries, Inc. (NYSE:MYE) by 14.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,450 shares of the industrial products company’s stock after buying an additional 9,349 shares during the quarter. Fmr LLC owned approximately 0.20% of Myers Industries worth $1,015,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MYE. Victory Capital Management Inc. acquired a new stake in shares of Myers Industries during the second quarter worth approximately $13,684,000. Renaissance Technologies LLC boosted its holdings in shares of Myers Industries by 8.3% during the second quarter. Renaissance Technologies LLC now owns 1,480,597 shares of the industrial products company’s stock worth $19,810,000 after purchasing an additional 113,100 shares during the period. Hodges Capital Management Inc. boosted its holdings in shares of Myers Industries by 336.3% during the second quarter. Hodges Capital Management Inc. now owns 105,800 shares of the industrial products company’s stock worth $1,416,000 after purchasing an additional 81,550 shares during the period. ClariVest Asset Management LLC boosted its holdings in shares of Myers Industries by 60.0% during the second quarter. ClariVest Asset Management LLC now owns 200,266 shares of the industrial products company’s stock worth $2,680,000 after purchasing an additional 75,108 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Myers Industries during the third quarter worth approximately $972,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MYE has been the subject of several research reports. KeyCorp cut shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a report on Wednesday, November 6th. StockNews.com cut shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Monday.

Myers Industries Price Performance

Shares of MYE opened at $12.24 on Tuesday. The firm has a market cap of $455.88 million, a PE ratio of 29.13 and a beta of 1.22. The firm’s 50 day moving average price is $12.08 and its 200 day moving average price 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, Inc. has a twelve month low of $10.35 and a twelve month high of $23.63.

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

Myers Industries Announces Dividend

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

Insider Activity

In other news, CEO Dave Basque purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were bought 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 directly owns 39,152 shares in the company, valued at $485,876.32. This trade represents a 14.64 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 19,500 shares of company stock valued at $232,575 over the last 90 days. 1.40% of the stock is currently owned by company 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.