Myers Industries, Inc. (NYSE:MYE) Shares Bought by Legal & General Group Plc
Legal & General Group Plc increased its stake in Myers Industries, Inc. (NYSE:MYE) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,902 shares of the industrial products company’s stock after buying an additional 86 shares during the period. Legal & General Group Plc owned about 0.12% of Myers Industries worth $568,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Hartford Investment Management Co. acquired a new position in Myers Industries during the first quarter valued at approximately $167,000. Arizona State Retirement System raised its stake in shares of Myers Industries by 0.9% in the first quarter. Arizona State Retirement System now owns 11,386 shares of the industrial products company’s stock worth $180,000 after buying an additional 100 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Myers Industries during the first quarter worth $187,000. Sei Investments Co. bought a new stake in shares of Myers Industries during the first quarter worth $194,000. Finally, Comerica Bank raised its stake in shares of Myers Industries by 4.8% in the fourth quarter. Comerica Bank now owns 23,082 shares of the industrial products company’s stock worth $323,000 after buying an additional 1,058 shares in the last quarter. 84.19% of the stock is owned by institutional investors.
Myers Industries, Inc. (NYSE MYE) opened at 17.30 on Friday. The stock has a 50 day moving average of $18.18 and a 200-day moving average of $16.17. Myers Industries, Inc. has a 52 week low of $11.35 and a 52 week high of $19.45. The firm has a market cap of $521.66 million, a PE ratio of 130.08 and a beta of 1.76.
Myers Industries (NYSE:MYE) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The firm had revenue of $142.30 million during the quarter, compared to the consensus estimate of $142.95 million. Myers Industries had a return on equity of 10.71% and a net margin of 0.74%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Analysts expect that Myers Industries, Inc. will post $0.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, June 16th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Wednesday, June 14th. Myers Industries’s dividend payout ratio is currently 415.38%.
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A number of research firms have recently issued reports on MYE. Zacks Investment Research lowered shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Friday, June 9th. TheStreet upgraded shares of Myers Industries from a “c” rating to a “b-” rating in a report on Monday, May 8th. BidaskClub downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a research report on Monday. Finally, KeyCorp reaffirmed a “sell” rating on shares of Myers Industries in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Myers Industries presently has a consensus rating of “Hold” and a consensus price target of $16.50.
In other Myers Industries news, major shareholder Gamco Investors, Inc. Et Al sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $18.44, for a total transaction of $55,320.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 3,700 shares of company stock valued at $67,425 in the last ninety days. 0.75% of the stock is currently owned by insiders.
About Myers Industries
Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.
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