William Blair Investment Management LLC cut its holdings in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,310,361 shares of the industrial products company's stock after selling 20,150 shares during the quarter. William Blair Investment Management LLC owned approximately 3.52% of Myers Industries worth $14,466,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of MYE. Quantbot Technologies LP lifted its stake in Myers Industries by 8.0% in the third quarter. Quantbot Technologies LP now owns 11,427 shares of the industrial products company's stock valued at $158,000 after acquiring an additional 846 shares during the last quarter. Foundry Partners LLC increased its stake in shares of Myers Industries by 1.0% during the third quarter. Foundry Partners LLC now owns 127,508 shares of the industrial products company's stock worth $1,762,000 after purchasing an additional 1,220 shares during the period. Point72 DIFC Ltd acquired a new stake in Myers Industries during the 3rd quarter worth approximately $28,000. Exchange Traded Concepts LLC boosted its stake in Myers Industries by 18.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 24,778 shares of the industrial products company's stock valued at $274,000 after purchasing an additional 3,793 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Myers Industries in the 3rd quarter valued at $72,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, StockNews.com raised shares of Myers Industries from a "sell" rating to a "hold" rating in a research report on Friday, March 7th.
Get Our Latest Stock Analysis on MYE
Myers Industries Stock Performance
Shares of MYE traded up $0.18 during mid-day trading on Monday, hitting $12.23. 306,841 shares of the company's stock were exchanged, compared to its average volume of 309,132. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36. Myers Industries, Inc. has a 52 week low of $9.32 and a 52 week high of $23.47. The stock's 50-day simple moving average is $11.90 and its 200-day simple moving average is $12.16. The firm has a market cap of $456.02 million, a price-to-earnings ratio of 29.11 and a beta of 1.21.
Myers Industries (NYSE:MYE - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The industrial products company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.09. The firm had revenue of $203.88 million for the quarter, compared to analyst estimates of $203.10 million. Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. On average, equities research analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current year.
Myers Industries Dividend Announcement
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 given a dividend of $0.135 per share. The ex-dividend date is Friday, March 14th. This represents a $0.54 annualized dividend and a yield of 4.42%. Myers Industries's dividend payout ratio is 284.21%.
Myers Industries declared that its board has approved a stock repurchase plan 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 purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.
Myers Industries Profile
(
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.
Recommended Stories
Before you consider Myers Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Myers Industries wasn't on the list.
While Myers Industries currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
