Smith Asset Management Group LP purchased a new stake in Myers Industries, Inc. (NYSE:MYE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 32,410 shares of the industrial products company’s stock, valued at approximately $582,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hartford Investment Management Co. purchased a new position in shares of Myers Industries during the first quarter valued at $167,000. Arizona State Retirement System boosted its position 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 valued at $180,000 after buying an additional 100 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Myers Industries during the first quarter valued at $187,000. Sei Investments Co. purchased a new position in shares of Myers Industries during the first quarter valued at $194,000. Finally, Texas Permanent School Fund boosted its position in shares of Myers Industries by 1.4% in the second quarter. Texas Permanent School Fund now owns 16,031 shares of the industrial products company’s stock valued at $288,000 after buying an additional 216 shares in the last quarter. 83.05% of the stock is owned by institutional investors.

Myers Industries, Inc. (NYSE MYE) opened at 17.35 on Monday. The company’s 50-day moving average price is $17.91 and its 200 day moving average price is $16.32. Myers Industries, Inc. has a 52 week low of $11.35 and a 52 week high of $19.45. The company has a market cap of $524.92 million, a PE ratio of 130.45 and a beta of 1.76.

Myers Industries (NYSE:MYE) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The company 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 firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. On average, analysts anticipate that Myers Industries, Inc. will post $0.51 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 8th will be given a dividend of $0.135 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.11%. Myers Industries’s payout ratio is currently 415.38%.

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MYE has been the subject of several research reports. Zacks Investment Research cut Myers Industries from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. TheStreet raised Myers Industries from a “c” rating to a “b-” rating in a research note on Monday, May 8th. BidaskClub cut Myers Industries from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, KeyCorp reaffirmed a “sell” rating on shares of Myers Industries in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $16.50.

In other news, major shareholder Gamco Investors, Inc. Et Al sold 3,000 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

Myers Industries Company Profile

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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Institutional Ownership by Quarter for Myers Industries (NYSE:MYE)

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