Charles Schwab Investment Management Inc. lowered its stake in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 14.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 381,381 shares of the industrial products company's stock after selling 64,078 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.02% of Myers Industries worth $4,210,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC lifted its stake in Myers Industries by 60.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 624,010 shares of the industrial products company's stock worth $8,624,000 after purchasing an additional 234,390 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Myers Industries during the 3rd quarter worth approximately $972,000. Barclays PLC boosted its holdings in Myers Industries by 464.7% during the 3rd quarter. Barclays PLC now owns 74,072 shares of the industrial products company's stock valued at $1,024,000 after acquiring an additional 60,954 shares during the period. JPMorgan Chase & Co. grew its position in Myers Industries by 78.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 133,506 shares of the industrial products company's stock valued at $1,845,000 after acquiring an additional 58,761 shares during the last quarter. Finally, Access Investment Management LLC grew its position in Myers Industries by 75.0% in the 4th quarter. Access Investment Management LLC now owns 111,315 shares of the industrial products company's stock valued at $1,229,000 after acquiring an additional 47,710 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company's stock.
Myers Industries Trading Down 3.3 %
MYE stock traded down $0.41 during mid-day trading on Friday, reaching $11.87. The company had a trading volume of 207,055 shares, compared to its average volume of 323,084. The firm has a 50 day moving average of $11.97 and a 200 day moving average of $12.10. 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, Inc. has a 12 month low of $9.32 and a 12 month high of $23.22. The company has a market capitalization of $442.52 million, a PE ratio of 28.25 and a beta of 1.21.
Myers Industries (NYSE:MYE - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The industrial products company reported $0.19 earnings per share (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 analysts' expectations of $203.10 million. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. On average, equities analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.
Myers Industries declared that its board has approved a share repurchase plan on Thursday, March 6th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the industrial products company to buy up to 2.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.
Myers Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a $0.135 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.54 annualized dividend and a dividend yield of 4.55%. Myers Industries's payout ratio is currently 284.21%.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded Myers Industries from a "sell" rating to a "hold" rating in a research report on Friday, March 7th.
Check Out Our Latest Stock Analysis on Myers Industries
About Myers Industries
(
Free Report)
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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