UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 8,388 Shares of Myers Industries, Inc. (NYSE:MYE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Myers Industries, Inc. (NYSE:MYE) by 11.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,978 shares of the industrial products company’s stock after buying an additional 8,388 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.21% of Myers Industries worth $1,091,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Victory Capital Management Inc. purchased a new position in shares of Myers Industries in the 2nd quarter worth $13,684,000. Renaissance Technologies LLC grew its holdings in shares of Myers Industries by 8.3% in 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 last quarter. Hodges Capital Management Inc. grew its holdings in shares of Myers Industries by 336.3% in 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 last quarter. ClariVest Asset Management LLC increased its stake in Myers Industries by 60.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 200,266 shares of the industrial products company’s stock worth $2,680,000 after buying an additional 75,108 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Myers Industries during the 3rd quarter valued at about $972,000. Institutional investors own 90.82% of the company’s stock.

Myers Industries Trading Down 5.0 %

Shares of NYSE:MYE opened at $11.71 on Thursday. The company has a market capitalization of $436.31 million, a PE ratio of 27.88 and a beta of 1.22. 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, Inc. has a 12-month low of $10.35 and a 12-month high of $23.63. The business’s fifty day simple moving average is $12.06 and its 200-day simple moving average is $13.43.

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 net margin of 1.88% and a return on equity of 14.75%. The firm had revenue of $205.07 million for the quarter. During the same period last year, the firm posted $0.38 earnings per share. As a group, equities research analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 3rd will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries’s dividend payout ratio is currently 128.57%.

Insider Transactions at Myers Industries

In related news, CEO Dave Basque acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $11.33 per share, with a total value of $56,650.00. Following the transaction, the chief executive officer now directly owns 29,152 shares of the company’s stock, valued at $330,292.16. This trade represents a 20.70 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have acquired 19,500 shares of company stock valued at $232,575. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on MYE shares. StockNews.com lowered Myers Industries from a “hold” rating to a “sell” rating in a report on Monday. KeyCorp lowered shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a report 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.