Access Investment Management LLC Invests $879,000 in Myers Industries, Inc. (NYSE:MYE)

Access Investment Management LLC bought a new position in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 63,605 shares of the industrial products company's stock, valued at approximately $879,000. Access Investment Management LLC owned about 0.17% of Myers Industries at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MYE. Gamco Investors INC. ET AL grew its stake in Myers Industries by 0.7% in the first quarter. Gamco Investors INC. ET AL now owns 3,193,054 shares of the industrial products company's stock worth $73,983,000 after purchasing an additional 21,724 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Myers Industries by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company's stock worth $65,956,000 after buying an additional 182,215 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Myers Industries by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,604,324 shares of the industrial products company's stock valued at $21,466,000 after buying an additional 4,777 shares during the period. Gabelli Funds LLC raised its holdings in shares of Myers Industries by 3.9% in the second quarter. Gabelli Funds LLC now owns 1,572,250 shares of the industrial products company's stock valued at $21,037,000 after acquiring an additional 58,500 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Myers Industries by 8.3% in the second quarter. Renaissance Technologies LLC now owns 1,480,597 shares of the industrial products company's stock valued at $19,810,000 after acquiring an additional 113,100 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Myers Industries Stock Up 1.8 %

NYSE:MYE traded up $0.22 during trading hours on Monday, reaching $12.32. The company's stock had a trading volume of 301,739 shares, compared to its average volume of 254,997. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.16 and a current ratio of 1.80. The company has a market capitalization of $459.04 million, a P/E ratio of 29.10 and a beta of 1.23. The stock has a 50 day moving average price of $13.14 and a two-hundred day moving average price of $14.63. Myers Industries, Inc. has a 12 month low of $10.77 and a 12 month high of $23.63.

Myers Industries (NYSE:MYE - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The company had revenue of $205.07 million during the quarter. During the same period last year, the firm posted $0.38 earnings per share. Equities analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 3rd will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries's dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

Separately, KeyCorp downgraded shares of Myers Industries from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, November 6th.

Myers Industries Company 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.