Covestor Ltd Acquires 7,122 Shares of Myers Industries, Inc. (NYSE:MYE)

Covestor Ltd increased its holdings in Myers Industries, Inc. (NYSE:MYE) by 712,200.0% in the 1st quarter, Holdings Channel reports. The fund owned 7,123 shares of the industrial products company’s stock after buying an additional 7,122 shares during the quarter. Covestor Ltd’s holdings in Myers Industries were worth $165,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC bought a new position in shares of Myers Industries in the 4th quarter worth about $54,000. Central Pacific Bank Trust Division bought a new stake in Myers Industries during the 1st quarter valued at about $228,000. Quantbot Technologies LP increased its stake in Myers Industries by 52.9% during the 1st quarter. Quantbot Technologies LP now owns 11,349 shares of the industrial products company’s stock valued at $263,000 after purchasing an additional 3,927 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Myers Industries during the 1st quarter valued at about $268,000. Finally, Summit Global Investments increased its stake in Myers Industries by 53.3% during the 4th quarter. Summit Global Investments now owns 16,470 shares of the industrial products company’s stock valued at $322,000 after purchasing an additional 5,725 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Myers Industries Stock Performance

Shares of NYSE MYE traded up $0.09 during trading on Tuesday, reaching $14.69. 49,477 shares of the company traded hands, compared to its average volume of 272,724. The firm has a 50 day simple moving average of $14.70 and a 200-day simple moving average of $18.35. The company has a quick ratio of 1.10, a current ratio of 1.75 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $546.17 million, a PE ratio of 13.78 and a beta of 1.21. Myers Industries, Inc. has a 52-week low of $12.47 and a 52-week high of $23.63.

Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter. The firm had revenue of $207.10 million for the quarter. Myers Industries had a net margin of 4.90% and a return on equity of 15.99%.

Myers Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Tuesday, June 18th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Tuesday, June 18th. Myers Industries’s payout ratio is 50.94%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th.

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.