Keybank National Association OH Sells 2,800 Shares of Myers Industries, Inc. (MYE)
Keybank National Association OH reduced its holdings in shares of Myers Industries, Inc. (NYSE:MYE) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,599 shares of the industrial products company’s stock after selling 2,800 shares during the period. Keybank National Association OH owned about 0.16% of Myers Industries worth $1,039,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Myers Industries by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,469,679 shares of the industrial products company’s stock valued at $26,381,000 after acquiring an additional 68,905 shares in the last quarter. Northern Trust Corp boosted its position in shares of Myers Industries by 3.9% during the 2nd quarter. Northern Trust Corp now owns 996,343 shares of the industrial products company’s stock valued at $17,885,000 after acquiring an additional 36,983 shares in the last quarter. State Street Corp boosted its position in shares of Myers Industries by 1.6% during the 2nd quarter. State Street Corp now owns 533,846 shares of the industrial products company’s stock valued at $9,581,000 after acquiring an additional 8,375 shares in the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of Myers Industries during the 2nd quarter valued at about $5,301,000. Finally, Thrivent Financial For Lutherans boosted its position in shares of Myers Industries by 2.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 291,630 shares of the industrial products company’s stock valued at $5,235,000 after acquiring an additional 6,260 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.
Several brokerages recently issued reports on MYE. BidaskClub downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Myers Industries from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, August 4th. Finally, KeyCorp reissued a “sell” rating and set a $15.00 price target on shares of Myers Industries in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.50.
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Myers Industries, Inc. (NYSE:MYE) opened at $20.75 on Tuesday. Myers Industries, Inc. has a 1-year low of $13.20 and a 1-year high of $22.65. The stock has a market cap of $633.11, a PE ratio of 50.73, a P/E/G ratio of 14.15 and a beta of 1.78. The company has a current ratio of 1.56, a quick ratio of 1.06 and a debt-to-equity ratio of 1.62.
Myers Industries (NYSE:MYE) last announced its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Myers Industries had a net margin of 1.24% and a return on equity of 12.93%. The firm had revenue of $144.10 million during the quarter, compared to the consensus estimate of $138.93 million. During the same period last year, the firm posted $0.04 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. equities analysts predict that Myers Industries, Inc. will post 0.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, November 30th. Myers Industries’s dividend payout ratio is currently 234.78%.
Myers Industries 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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