Y Intercept Hong Kong Ltd Lowers Stock Position in Myers Industries, Inc. (NYSE:MYE)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 48.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,353 shares of the industrial products company’s stock after selling 25,189 shares during the period. Y Intercept Hong Kong Ltd owned about 0.07% of Myers Industries worth $364,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Panagora Asset Management Inc. grew its stake in shares of Myers Industries by 54.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 188,566 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 66,084 shares during the period. nVerses Capital LLC purchased a new stake in shares of Myers Industries during the 2nd quarter worth approximately $25,000. Hodges Capital Management Inc. grew its holdings in shares of Myers Industries by 336.3% in the 2nd quarter. Hodges Capital Management Inc. now owns 105,800 shares of the industrial products company’s stock worth $1,416,000 after acquiring an additional 81,550 shares during the period. Victory Capital Management Inc. purchased a new stake in Myers Industries during the second quarter worth $13,684,000. Finally, Los Angeles Capital Management LLC grew its holdings in Myers Industries by 324.7% in the second quarter. Los Angeles Capital Management LLC now owns 61,664 shares of the industrial products company’s stock valued at $825,000 after purchasing an additional 47,144 shares during the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Myers Industries Trading Down 0.5 %

Shares of MYE stock opened at $12.24 on Tuesday. Myers Industries, Inc. has a twelve month low of $10.35 and a twelve month high of $23.63. The company has a market capitalization of $455.88 million, a price-to-earnings ratio of 29.13 and a beta of 1.22. The firm has a 50-day moving average price of $12.08 and a 200 day moving average price of $13.46. 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 announced 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). The firm 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 last year, the firm earned $0.38 earnings per share. Research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 4.41%. Myers Industries’s dividend payout ratio (DPR) is presently 128.57%.

Insiders Place Their Bets

In other news, CEO Dave Basque acquired 5,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was acquired at an average cost of $12.13 per share, for a total transaction of $60,650.00. Following the acquisition, the chief executive officer now directly owns 34,152 shares in the company, valued at approximately $414,263.76. This represents a 17.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have acquired 19,500 shares of company stock valued at $232,575. Insiders own 1.40% of the company’s stock.

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.