Los Angeles Capital Management LLC Sells 46,932 Shares of Myers Industries, Inc. (NYSE:MYE)

Los Angeles Capital Management LLC lessened its position in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 76.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,732 shares of the industrial products company's stock after selling 46,932 shares during the period. Los Angeles Capital Management LLC's holdings in Myers Industries were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. nVerses Capital LLC bought a new position in Myers Industries in the 2nd quarter valued at about $25,000. DekaBank Deutsche Girozentrale acquired a new stake in Myers Industries during the 1st quarter worth about $91,000. Paloma Partners Management Co acquired a new stake in Myers Industries during the first quarter worth approximately $254,000. Gallacher Capital Management LLC bought a new stake in Myers Industries in the second quarter worth approximately $186,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Myers Industries by 10.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,959 shares of the industrial products company's stock valued at $200,000 after acquiring an additional 1,357 shares during the period. Institutional investors and hedge funds own 90.82% of the company's stock.

Myers Industries Stock Performance

MYE traded down $0.26 during midday trading on Tuesday, reaching $10.90. The company had a trading volume of 283,786 shares, compared to its average volume of 257,481. Myers Industries, Inc. has a 12-month low of $10.77 and a 12-month high of $23.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. The business has a 50-day moving average price of $12.83 and a two-hundred day moving average price of $14.19. The stock has a market cap of $406.13 million, a PE ratio of 26.05 and a beta of 1.23.

Myers Industries (NYSE:MYE - Get Free Report) last released its 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 net margin of 1.88% and a return on equity of 14.75%. The business had revenue of $205.07 million for the quarter. During the same quarter in the prior year, the company posted $0.38 earnings per share. On average, sell-side analysts expect that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders 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 4.95%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries's payout ratio is 128.57%.

Analysts Set New Price Targets

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

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.