Public Sector Pension investment Board trimmed its position in shares of Myers Industries, Inc. (NYSE:MYE) by 29.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,201 shares of the industrial products company’s stock after selling 4,600 shares during the period. Public Sector Pension investment Board’s holdings in Myers Industries were worth $201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System raised its holdings in shares of Myers Industries by 0.9% during the 1st 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. Texas Permanent School Fund raised its holdings in shares of Myers Industries by 1.4% during the 2nd 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. Ameriprise Financial Inc. raised its holdings in shares of Myers Industries by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 115,911 shares of the industrial products company’s stock valued at $2,080,000 after buying an additional 362 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Myers Industries by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 88,832 shares of the industrial products company’s stock valued at $1,595,000 after buying an additional 513 shares in the last quarter. Finally, North Star Investment Management Corp. raised its holdings in shares of Myers Industries by 0.4% during the 2nd quarter. North Star Investment Management Corp. now owns 157,116 shares of the industrial products company’s stock valued at $2,820,000 after buying an additional 654 shares in the last quarter. 84.44% of the stock is currently owned by institutional investors.

Myers Industries, Inc. (NYSE MYE) opened at 22.30 on Monday. The stock has a market capitalization of $674.69 million, a PE ratio of 167.67 and a beta of 1.78. Myers Industries, Inc. has a one year low of $11.35 and a one year high of $22.45. The company’s 50 day moving average price is $19.98 and its 200-day moving average price is $18.05.

Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Myers Industries had a return on equity of 10.71% and a net margin of 0.74%. The company had revenue of $142.30 million during the quarter, compared to analyst estimates of $142.95 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. Analysts expect that Myers Industries, Inc. will post $0.50 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Friday, September 8th were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Thursday, September 7th. Myers Industries’s payout ratio is presently 415.38%.

A number of equities analysts recently weighed in on MYE shares. Zacks Investment Research cut Myers Industries from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub cut Myers Industries from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, KeyCorp reissued a “sell” rating on shares of Myers Industries in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $16.50.

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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.

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

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