Rhumbline Advisers Sells 54,315 Shares of Myers Industries, Inc. (NYSE:MYE)

Rhumbline Advisers lessened its holdings in Myers Industries, Inc. (NYSE:MYE - Free Report) by 51.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,709 shares of the industrial products company's stock after selling 54,315 shares during the period. Rhumbline Advisers owned about 0.14% of Myers Industries worth $571,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MYE. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Myers Industries by 60.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 624,010 shares of the industrial products company's stock valued at $8,624,000 after purchasing an additional 234,390 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Myers Industries during the 3rd quarter worth approximately $972,000. Access Investment Management LLC purchased a new position in shares of Myers Industries in the 3rd quarter worth approximately $879,000. Barclays PLC grew its holdings in shares of Myers Industries by 464.7% in the third 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 in the last quarter. Finally, Tieton Capital Management LLC grew its holdings in shares of Myers Industries by 32.1% in the third quarter. Tieton Capital Management LLC now owns 246,920 shares of the industrial products company's stock valued at $3,412,000 after acquiring an additional 59,995 shares in the last quarter. Institutional investors own 90.82% of the company's stock.

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Myers Industries Stock Performance

MYE traded up $0.03 during midday trading on Tuesday, reaching $13.14. The company had a trading volume of 419,292 shares, compared to its average volume of 338,493. 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 $11.58 and a two-hundred day moving average price of $12.31. Myers Industries, Inc. has a 12-month low of $9.32 and a 12-month high of $23.63. The stock has a market cap of $489.41 million, a PE ratio of 31.27 and a beta of 1.21.

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

Myers Industries declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 6th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.54 dividend on an annualized basis and a yield of 4.11%. Myers Industries's payout ratio is 284.21%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Myers Industries from a "sell" rating to a "hold" rating in a research report on Friday.

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.