Myers Industries, Inc. (NYSE:MYE) Shares Sold by Weiss Asset Management LP

Weiss Asset Management LP decreased its holdings in Myers Industries, Inc. (NYSE:MYE - Free Report) by 70.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,150 shares of the industrial products company's stock after selling 123,481 shares during the period. Weiss Asset Management LP owned 0.14% of Myers Industries worth $707,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Myers Industries during the second quarter valued at approximately $25,000. Point72 DIFC Ltd purchased a new position in shares of Myers Industries in the 3rd quarter valued at $28,000. Point72 Asset Management L.P. purchased a new position in shares of Myers Industries in the 3rd quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Myers Industries in the 3rd quarter valued at $85,000. Finally, Quest Partners LLC acquired a new stake in shares of Myers Industries in the 3rd quarter worth $150,000. Institutional investors own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp cut Myers Industries from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, November 6th.

Myers Industries Price Performance

NYSE:MYE traded up $0.27 during trading hours on Monday, hitting $12.12. 426,726 shares of the stock were exchanged, compared to its average volume of 305,394. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. The firm's fifty day moving average price is $12.18 and its 200 day moving average price is $13.60. The company has a market cap of $451.59 million, a P/E ratio of 28.21 and a beta of 1.22. Myers Industries, Inc. has a 52-week low of $10.35 and a 52-week high of $23.63.

Myers Industries (NYSE:MYE - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.04). Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The business had revenue of $205.07 million during the quarter. During the same quarter in the previous year, the company earned $0.38 EPS. As a group, equities research analysts anticipate that Myers Industries, Inc. will post 0.95 EPS for the current fiscal year.

Myers Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Tuesday, December 3rd. Myers Industries's dividend payout ratio (DPR) is presently 128.57%.

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.