Victory Capital Management Inc. Sells 41,102 Shares of Myers Industries, Inc. (NYSE:MYE)

Victory Capital Management Inc. cut its holdings in shares of Myers Industries, Inc. (NYSE:MYE - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 993,023 shares of the industrial products company's stock after selling 41,102 shares during the period. Victory Capital Management Inc. owned about 2.67% of Myers Industries worth $10,963,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MYE. Hotchkis & Wiley Capital Management LLC increased its stake in shares of 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 valued at $8,624,000 after buying an additional 234,390 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Myers Industries in the third quarter worth about $972,000. Barclays PLC lifted its position in shares of Myers Industries by 464.7% during the third quarter. Barclays PLC now owns 74,072 shares of the industrial products company's stock worth $1,024,000 after purchasing an additional 60,954 shares in the last quarter. Tieton Capital Management LLC increased 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 purchasing an additional 59,995 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Myers Industries by 78.6% in the third quarter. JPMorgan Chase & Co. now owns 133,506 shares of the industrial products company's stock valued at $1,845,000 after purchasing an additional 58,761 shares in the last quarter. Institutional investors own 90.82% of the company's stock.

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Analysts Set New Price Targets

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

Myers Industries Trading Up 1.8 %

Myers Industries stock traded up $0.23 during trading hours on Monday, reaching $13.01. 344,488 shares of the company's stock traded hands, compared to its average volume of 312,167. The firm has a market capitalization of $485.03 million, a price-to-earnings ratio of 30.96 and a beta of 1.21. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. Myers Industries, Inc. has a fifty-two week low of $9.32 and a fifty-two week high of $23.63. The firm's 50 day moving average is $11.73 and its 200-day moving average is $12.24.

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, beating analysts' consensus estimates of $0.10 by $0.09. The firm had revenue of $203.88 million for the quarter, compared to analysts' expectations of $203.10 million. Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. On average, analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries announced that its board has authorized a stock buyback 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 repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically an indication 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 dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Friday, March 14th. Myers Industries's dividend payout ratio is currently 284.21%.

About Myers Industries

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.