Bank of New York Mellon Corp lowered its stake in Myers Industries, Inc. (NYSE:MYE – Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 490,478 shares of the industrial products company’s stock after selling 9,415 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.33% of Myers Industries worth $10,511,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MYE. Citigroup Inc. lifted its stake in Myers Industries by 12.0% in the 1st quarter. Citigroup Inc. now owns 31,112 shares of the industrial products company’s stock valued at $672,000 after buying an additional 3,340 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Myers Industries by 51.5% in the 1st quarter. MetLife Investment Management LLC now owns 20,664 shares of the industrial products company’s stock valued at $446,000 after buying an additional 7,025 shares in the last quarter. Rhumbline Advisers lifted its stake in Myers Industries by 1.9% in the 1st quarter. Rhumbline Advisers now owns 98,848 shares of the industrial products company’s stock valued at $2,135,000 after buying an additional 1,852 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Myers Industries by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,242 shares of the industrial products company’s stock valued at $675,000 after acquiring an additional 3,852 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Myers Industries by 0.3% in the 1st quarter. BlackRock Inc. now owns 5,751,265 shares of the industrial products company’s stock valued at $124,227,000 after acquiring an additional 14,446 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.
Insider Transactions at Myers Industries
In other news, CEO Michael Mcgaugh acquired 2,500 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average cost of $18.47 per share, for a total transaction of $46,175.00. Following the acquisition, the chief executive officer now directly owns 171,296 shares in the company, valued at approximately $3,163,837.12. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Stock Report on Myers Industries
Myers Industries Trading Up 1.5 %
Shares of MYE opened at $19.09 on Friday. The stock has a fifty day moving average of $19.23 and a two-hundred day moving average of $20.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 1.56. The company has a market capitalization of $702.70 million, a PE ratio of 13.93 and a beta of 1.40. Myers Industries, Inc. has a fifty-two week low of $16.08 and a fifty-two week high of $26.49.
Myers Industries (NYSE:MYE – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.04). The business had revenue of $208.45 million during the quarter, compared to analyst estimates of $222.80 million. Myers Industries had a net margin of 5.86% and a return on equity of 20.65%. As a group, analysts forecast that Myers Industries, Inc. will post 1.55 EPS for the current year.
Myers Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, June 16th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.83%. Myers Industries’s payout ratio is 39.42%.
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.
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