Myers Industries, Inc. (NYSE:MYE) Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its stake in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 434,459 shares of the industrial products company's stock after selling 37,567 shares during the quarter. American Century Companies Inc. owned about 1.17% of Myers Industries worth $4,796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Myers Industries by 78.6% during the third quarter. JPMorgan Chase & Co. now owns 133,506 shares of the industrial products company's stock worth $1,845,000 after purchasing an additional 58,761 shares during the period. Barclays PLC raised its position in Myers Industries by 464.7% during the 3rd quarter. Barclays PLC now owns 74,072 shares of the industrial products company's stock worth $1,024,000 after buying an additional 60,954 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Myers Industries in the 4th quarter worth $290,000. State Street Corp boosted its holdings in shares of Myers Industries by 2.6% in the third quarter. State Street Corp now owns 1,374,246 shares of the industrial products company's stock valued at $19,176,000 after acquiring an additional 35,456 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Myers Industries by 14.6% during the third quarter. FMR LLC now owns 73,450 shares of the industrial products company's stock worth $1,015,000 after acquiring an additional 9,349 shares during the period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Myers Industries from a "sell" rating to a "hold" rating in a research report on Friday, March 7th.

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Myers Industries Stock Down 3.2 %

Myers Industries stock opened at $10.34 on Friday. The stock's 50 day moving average price is $11.93 and its 200 day moving average price is $12.03. Myers Industries, Inc. has a 1-year low of $9.32 and a 1-year high of $23.05. The company has a market cap of $385.79 million, a PE ratio of 24.63 and a beta of 1.08. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.80 and a quick ratio of 1.11.

Myers Industries (NYSE:MYE - Get Free Report) last issued its earnings results on Thursday, March 6th. The industrial products company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.10 by $0.09. The company had revenue of $203.88 million for the quarter, compared to analyst estimates of $203.10 million. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. On average, sell-side analysts predict that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries announced that its board has authorized a share repurchase program on Thursday, March 6th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Myers Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.135 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.54 dividend on an annualized basis and a yield of 5.22%. Myers Industries's dividend payout ratio (DPR) is presently 284.21%.

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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